Sen. Sheldon Whitehouse (D-RI) announced his opposition to a budget proposal with chained CPI today. Here’s a statement he issued on the matter:
“I made a promise to the people of Rhode Island that I would always oppose cuts to Social Security, and Iai??i??m going to keep that promise. Social Security is fully solvent for the next twenty years, has not contributed to our budget deficits, and has no place in this debate over federal spending. The so-called ai???chained CPIai??i?? proposal included in President Obamaai??i??s budget is nothing more than a benefit cut disguised behind technical jargon. While I commend the President for including some smart provisions in his budget like investments in infrastructure and the Buffett Rule for tax fairness, I cannot support a proposal that would force seniors to pay for deficits Social Security had no part in creating.”
It is time for the president to compromise with republicans. They say they do not want to cut SS benefits. He should see their point and take chain CPI out of his budget. There must be a corporate subsidy that can be cut to replace the revenue.
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I need every penny of my social security retirement.