Social Security http://wvtf.org en Budget Battles Continue http://wvtf.org/post/budget-battles-continue <p>President Obama's new budget has of course sparked a battle on Capitol Hill.</p><p>We know Republicans aren’t happy with the president’s newly unveiled budget, but neither are some Virginia Democrats.</p><p>In his budget the President is embracing a new way to tie Social Security payments to the rate of inflation. It’s called the “Chained CPI” but let’s get past the Washington jargon. What it amounts to is less money in those Social Security checks for future generations of seniors.</p> Fri, 12 Apr 2013 15:28:12 +0000 Person: Matt Laslo 2750 at http://wvtf.org Budget Battles Continue Reaction to "Chained CPI" in Budget http://wvtf.org/post/reaction-chained-cpi-budget <p>A large contingent of Virginians says it will pressure congressional representatives to vote against a proposal by the Obama administration that cuts into Social Security benefits.</p><p>The AARP is part of the group that says the "Chained CPI" proposal breaks the promise made to millions of Americans.&nbsp;<br><br>While the Consumer Price Index calculates inflation through the costs of basic goods, the Chained CPI factors in lower demand and the substitutions that consumers make when costs are higher.&nbsp;&nbsp;Thus, it lowers cost-of-living adjustments for inflation.&nbsp;&nbsp;</p> Thu, 11 Apr 2013 13:42:09 +0000 Tommie McNeil 2679 at http://wvtf.org Reaction to "Chained CPI" in Budget