Mon October 14, 2013
AARP Members Worried About Future of Social Security Benefits
AARP doesn't want to see any erosion in the yearly inflationary adjustment for Social Security recipients.
And they want to see more than just a meager, nominal increase in benefits.
Reports indicate the raise next year may amount to just 1.5 percent.
Erik Kriss is a spokesman for AARP.
He says one of the things that has been mentioned as a budget bargaining chip is the so-called "chained CPI."
It assumes that when prices go up for one thing, people will settle for a cheap substitute.
Kriss says AARP feels that is totally wrong headed, because older Americans, particulary those on fixed incomes, can't buy cheaper versions of the basic necessities of life.
He says at stake is a cost-of-living adjustement, or COLA, that is expected to begin in January for 58 million people, and AARP members are worried Social Security benefits will be cut as part of a deal to reduce the deficit, fund government operations or increase the debt ceiling.