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Chained-CPI: The Facts

Washington is discussing a proposal to slash Social Security and Veterans' benefits. Here's what you need to know.
by

Bernie Sanders

on 11 March 2013

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Transcript of Chained-CPI: The Facts

The Facts About The
Chained-CPI What is the chained-CPI? Who would be affected by the chained-CPI? There is a coalition of Americans
united against the chained-CPI
The Chained Consumer Price Index is an alternate measure for price levels of consumer goods created by the Bureau of Labor Statistics, currently not used in the federal government's calculations. Who would be affected by the chained-CPI? Senior Citizens Veterans Wealthy interests are proposing using this measure to "reform" entitlements and government spending, resulting in cuts to recipients of Social Security, veterans' benefits, federal civilian pensions, and other programs. It would also increase the tax burden on Americans making under $200,000 a year. The Obama administration has kept the Chained-CPI on the table for possible entitlement reform and long-term spending cuts. Who would be affected by the chained-CPI? Middle-Class Taxpayers - Veterans' groups
- Retired Americans
- Labor groups
- Women's groups The chained-CPI is a regressive measure that is continuously proposed instead of asking the wealthiest in America to contribute to deficit reduction. Programs like Social Security don't contribute to the deficit. Unfunded wars and tax breaks for the wealthy do. - Close tax loopholes, including offshore tax havens that cost the United States over $100 billion in lost revenue per year - End tax breaks and subsidies for big oil, gas, and coal companies, we could reduce the deficit by more than $113 billion over the next ten years. Actual forms of deficit reduction: - Requiring Medicare to negotiate drug prices, similarly to what the VA currently does, would save more than $157 billion over 10 years. Do not accept the chained-CPI Learn more: http://sanders.senate.gov Read Bernie's Progressive Deficit Reduction plan here: http://www.sanders.senate.gov/newsroom/news/?id=a20566d5-8292-4fc6-ac0a-f10d4bbc7edb
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