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