PROTEST AGAINST CHAINED CPI

by Tony Fransetta

We must protect seniors against the chained CPI

 Please join us: Protest against the Chained CPI

Join us and our affiliates as we protest against the Chained CPI.  Chained CPI is an immediate Social Security benefit cut!   We need a higher COLA - not a lower one!   The current COLA is not enough - it does not accurately account for the large health care cost increase faced by seniors and people with disabilities.

When:  Tuesday, July 2nd, 2013 @ 11:00 a.m.

Where:  Outside US Senator Marco Rubio's office, 4580 PGA Blvd., Palm Beach Gardens, FL

  

We refuse to be the last generation to retire! On July 2nd, just before we celebrate our national independence day, we will join hands to form human chain against the chained CPI Social Security benefit - a cut that would limit current and future retirees' ability to remain independent in their golden years. SHARE and INVITE your friends and allies to attend.

Click here to sign up to attend! http://afl.salsalabs.com/o/4055/t/14893/p/salsa/event/common/public/

 For additional information, please contact Tony Fransetta, President, Florida Alliance for Retired Americans 561-792-8799 or 561-386-7047.

 A Press Release: your early View!

Standing Up Against the Cuts to Social Security

by Tony Fransetta

On Tuesday, July 2nd, the Florida Alliance for Retired Americans will join others across the country in a Day of Action protesting the chained CPI cut to Social Security benefits. We are doing this because some cuts never heal - and that includes a compounding cut to Social Security like the chained CPI.

If the chained CPI formula change were to be implemented, an average person retiring in 2011 at age 65 would lose over $6,000 in 15 years. Supporters of the chained CPI justify this by claiming that seniors should just buy cheaper products. In reality, many senior are already struggling to get by and don't have cheaper options for food, transportation, housing or utility costs. Additionally, this argument ignores the reality that seniors spend a large percentage of their income on health care costs, which do not allow for substitution. A senior cannot just substitute triple bypass surgery with a double because it's cheaper.

Despite the claims of some out-of-touch politicians in Washington, the chained CPI is not just a small benefit cut. Switching to the chained CPI cost-of-living adjustment (COLA) formula would result in an annual benefit that is roughly $1,000 (2012 dollars) lower by the time a beneficiary reaches age 85. The loss of this vital income will result in heartbreaking choices for many seniors, particularly the one-third of beneficiaries who rely on Social Security for 90 percent or more of their income. Seniors cannot be asked to choose between buying food and buying lifesaving medication.

Retirement in America was once based on a three-legged stool of pensions, personal savings, and Social Security. Well the first two legs of the stool are no longer a reality for millions of Americans, who depend largely or solely on Social Security to provide for them in retirement. These Americans worked hard for decades and deserve to be able to retire without falling into poverty. They earned their Social Security benefits, and they are more important in this economy, not to mention for future generations the way things are going, than ever. That's why benefits need to be increased, not slashed.

Fortunately, there is a better alternative to the chained CPI. The Strengthening Social Security Act of 2013 (S. 567), sponsored by Senator Tom Harkin (D-IA), would require the establishment of a price index that accurately reflects costs for Social Security beneficiaries, among other improvements. Called the Consumer Price Index for the Elderly (CPI-E), this alternative would be used when computing increases in the COLA and would consider typical seniors' costs, including medical care and housing costs, to ensure that retirees' Social Security benefits keep pace with inflation.

I urge anyone who cares about protecting Social Security benefits for ourselves and future generations to join with us in our fight against the chained CPI.

Tony Fransetta is president of the Florida Alliance for Retired Americans (FLARA) a nonprofit, grass-roots organization that advocates for the rights and health of retirees and their families. FLARA has over 177,000 members. Contact him at 561-792-8799 / FloridaARA@aol.com