Policy Brief: The Chained CPI-U Brief

Recently, the media has reported that some Washington politicians are prepared to permanently cut the Social Security COLA (Cost of Living Adjustment) as part of the debt ceiling negotiations. This is despite the fact that Social Security is an independent, “off-budget” program with its own dedicated revenue source that has never contributed a single penny to the national deficit. This benefit cut is called the chained CPI-U. It is being presented as a minor technical change, but it would slash benefits of all beneficiaries, including current retirees, disabled workers, orphans and others.

This policy brief released by Latinos for a Secure Retirement discusses how the proposed cut is a threat to the financial security of every American who relies, or will rely, on Social Security.

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Protecting Social Security: A Blueprint for Strengthening Social Security for All Americans

Social Security is a vital safety net that protects American families. Children are protected in the event they are orphaned or their parents become disabled. Workers are protected if they can no longer work because of disability and parents and grandparents are protected when they become too old to continue working. Social Security is a sacred trust between generations and represents our Latino family values.

This report released by Latinos for a Secure Retirement will assist elected leaders, their staffs, and the general public to better understand the importance of Social Security and work to further strengthen its finances without cutting benefits or increasing the retirement age.

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