To the editor:
Social Security is more important today than it has ever been as seniors are living longer and trying to cope with rising health care costs, prescription drugs, and utility costs. But right now there is a plan circulating in Washington that would reduce benefits substantially called the “chained CPI (Consumer Price Index).
Supporters portray it as a more accurate reading of the cost-of-living. However, that is a profound misunderstanding of the real-life choices most seniors confront to make ends meet. The fact is that the “chained CPI” represents a significant benefit cut and, over the course of a lifetime, would cost the average senior thousands of dollars.
The “chained CPI” would also take a disproportionate toll on women who typically live longer than men and are more likely to rely on income from Social Security. It also assumes that when the cost of something rises, seniors can simply switch to a lower-cost substitute.
If only life were that easy for older Americans.
For most seniors, it is not simply a matter of comparative shopping at the supermarket. Seniors already choose lower-cost options and also spend much of their money on health care and utilities that don’t have lower cost substitutes.
Social Security did not cause the deficit and should not be cut to fix Washington’s budget problem. Surely our elected officials can find a way to strengthen the country’s finances without taking even more from Social Security – a self-financed program that provides earned benefits to millions.
Rich Livingston, president
AARP Maine
