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.
I think I had read the article here actually. I looked back at my history at the links that turn purple after you click on them, but could not find it, so perhaps I did not read it here, or I imagined that I had read when I got up this morning.
And yes, I think the article did allude to inflation being a factor, which is what they were talking about, projected inflation, and then the decrease in cost of living, which will be a double whammy.
I will look around later on some of the other sites I visit and see if I can find it, or maybe someone else read the article and could post it, because I can’t for the life of me find it (Alzheimer’s may be setting in early). I apologize, but will keep looking later this afternoon.