The lie: Social Security benefits must be cut because they contribute to the federal debt.

The truth: By law, it’s SELF-funded and CAN’T/ DIDN’T contribute to the debt!

And another lie: “They” say Chained-CPI (cuts tied to the Consumer Price Index) is NOT a cut to Social Security. “They” compound the lie with the rationalization that it’s “a small adjustment to the Cola” (social security’s Cost-of-Living-Adjustment).

The truth: This proposed “adjustment” would cut the benefits of ALL beneficiaries: veterans, disabled workers, surviving/dependent spouses and children, current retirees, and ALL future retirees.

How would the proposed Chained-CPI work? Let’s look at the facts:

If you begin withdrawing benefits at age 65, Chained-CPI would cut your benefits $307 (average) the first year. Your benefit-cut compounds over time, so at age 75 you’ll have lost $4,631. It gets worse: At age 85 your cumulative loss will be $13,910. And, at age 95, it’ll be $28,004!

Remember: Cumulative cuts get deeper, every year … thus, they have the biggest impact when social security benefits are needed most — when you’re older and savings have been used up.

Additionally, those liars omit telling us about the host of side-effect-cuts which come hand-in-hand with Chained-CPI. Since it is tied to the federal income tax brackets, it pushes people into higher marginal rates; it’s quite regressive, hitting middle-income earners the hardest, increasing their taxes substantially. And, because poverty rates will be redefined, there’ll be cuts to over 30 vital programs, such as: Head Start, Low-Income Home Energy Assistance, Chip (Children’s Health Insurance), Snap (Food Stamps), WIC (nutrition for women, infants and children), and the national school breakfast and lunch program.

Yes, “they” are lying: Chained-CPI means real CUTS! Call them on it.