Your Loss – Chained CPI Proposals

The President’s Budget Proposal for  FY 2014 includes a plan to reduce benefits to senior citizens, military retirees disabled veterans and survivors.  It goes by the “innocent” and now ever popular name of “Chained CPI.” Proponents describe this new formula as a simple “technical adjustment” that does a better job of calculating the true cost of living.  In truth, there is nothing innocent about the Chained CPI as  it represents a significant benefit cut.  Over the course of a lifetime the average beneficiary stands to lose thousands of dollars.

Estimates show this policy would reduce annual Social Security benefits for the average earner by $658 at age 75, $1,147 at age 85 and $1,622 at age 95.  A 30-year-old disabled Veteran who started receiving VA disability compensation due to a 100 percent service-connect disability would have their benefits reduced by $1,425 at age 45, and by $3,231 at age 65.  Payments to military retirees and those to the surviving spouses and children of these individuals are subject to similar reductions if the use of the Chained CPI is approved.

The bottom line is simple; this is an open attack on the millions of Americans who rely on these programs.  The repeated promise we all continue to hear, “We cannot, we must not, and we will not, balance the budget on the backs of our Veterans,” once again is being forgotten.  Now more than ever we need you to get involved and join our fight to “Stop the Chop” by telling Congress to NOT chop military retired pay and VA disability or Dependency and Indemnity Compensation benefits.  Send them a message now via AFSA CapWiz today!

This bulletin was cross-posted from HQAFSA.org, the official website for the Air Force Sergeants Association Headquarters. It has been posted here for your convenience. Visit HQAFSA.org for more updates!

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