Monterey, CA Social Security Recipients Could Be Hit Hard By Switch To Chained CPI

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President Barack Obama is scheduled to release his budget this week.  Unfortunately, the dreaded switch from the Consumer Price Index (CPI) to the Chained CPI, appears to be built into the new budget.  The move will hit government workers and retirees alike, with annual increases in their payments set using a lower inflator.  The good news is that the Obama administration appears to be moving towards a compromise with Republicans, although many Democrats are infuriated by some changes such as the move to the Chained CPI.  The bad news is that, once again, many poor seniors will suffer through more income cuts at a time they can afford them the least.

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands To Help Seniors and the individual members comprising the Board of Governors.