“including shifting to a new consumer price index to make cost-of-living adjustments to Social Security. “
I’ve read this can cut SS payments by as much as $700 per month. If so, R’s will get the blame on this, and it will sink the R party for decades to come.
The Dems and the media will posture it as if the R’s shifted money from the “lockbox” to kill Granny for the rich.
I don’t expect I will ever see SS. I never expected to really “retire” in any sense of the word either, but there are going to be a ton of folks already on fixed income, who have given everything to this nation, who are going to be hurt like no tomorrow.
Do you recall where you read that? My understanding is that it affects only the cost of living increase. For example if the increase would be 3% under the current method of calculation, it might be reduced to 2.2% under the new one. That will lower benefits, but hardly by 700 bucks a month.
$700 per month? Either SS payments have got higher than I realized, or they’re talking after QE14 sinks in and we’re pickled in hyperinflation.