Speaking on Thursday, Ohio Congressmember Dennis Kucinich blasted a potential “fiscal cliff” compromise measure called a “chained CPI” that would impact Social Security payments.
Rep. Dennis Kucinich: “As cost of living goes up, seniors inevitably turn to cheaper alternatives. For example, if seniors eat steak but then can’t afford its higher price, they could switch to something cheaper, like cat food, and the cost-of-living calculation would be 'chained' to the cheaper item, cat food. So, the less you pay for food, the less benefits you get. The 'chained CPI' benefit cut will chain aging seniors to a poverty of choices, a lower standard of living, with cheaper products. The chained CPI formula doesn’t take into account seniors’ rising healthcare costs. If it did, benefits would go up. There is no justification to cut security benefits. No to throwing seniors off the fiscal cliff. No to a cat food Christmas.”