The budget proposal created by President Obama to alter how Social Security Benefits are distributed is being calculated by a chained consumer price index (CPI).
Now, what’s the controversy?
Well, The National Committee has voiced their disfavor to a chained CPI because it doesn’t properly account the “purchasing patters of our elderly population”. How are these purchases determined? Well, the US government collects the data on a “market basket” of goods and services…including food and beverage, housing, apparel, recreation, education, transportation, and medical care. With seniors, the medical care portion outbalances that of non-senior US citizens and the CPOI doesn’t take this into consideration.
So, what can be done?
Want to read more? Visit the website for The National Committee to Preserve Social Security and Medicare. Contact Kenneth G Marks Law Firm today.
Kenneth G. Marks is an aggressive Social Security Disability attorney who will fight for you! www.KmarksLaw.com