Most people have never heard of the "Chained CPI", a proposal in Congress that would, if approved, reduce benefits to veterans, federal retirees and Social Security recipients. Vermont Senator Bernie Sanders and numerous groups discussed their efforts to stop the Chained CPI during a conference call Friday.
More than 50 national groups have signed on to a letter to Congress urging opposition to the Chained CPI, which would reduce veterans’ and social security cost-of-living adjustments. National Committee to Preserve Social Security and Medicare President and CEO Max Richtman says supporters of the Chained CPI have downplayed its impact by trying to characterize it as a technical adjustment.
And that is one of the possible cuts that has Vermont Senator Bernie Sanders livid.
Ed Laviletta is a former Vermont VFW commander with 30 years of active duty service.
Jewish War Veterans of the USA National Executive Director Herb Rosenbleeth.
The Chained CPI proposal is part of Simpson-Bowles and is supported by the Senate’s so-called Gang of Six and, according to Senator Sanders, Pete Peterson, a Wall Street billionaire who has invested large amounts of money in an effort to make cuts in social service programs.