Former Labor Secretary Robert Reich on Tuesday night criticized President Barack Obama for agreeing to adjust the measure of inflation for safety net programs like Social Security.
During an appearance on Current TV, Reich said the President was “chipping away at Social Security and Medicare by fiddling with the formula for inflation” amid the ongoing budget negotiations. The proposed changes to the measure of inflation — called “chained CPI” — would lead to smaller cost-of-living increases for Social Security beneficiaries.
The average retired Social Security recipient gets $12,000 per year and for many that is all they get. They have no other pension plans. For Obama to make significant changes in the inflation adjustment they get is to set them back. Over time these folks would eat less, take less medications, live in a colder house and more. They end up dying earlier as well.
If you think Congress should stop Obama from caving in then please call them at 202-224-3121
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