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Statement on Reports that Obama Budget will Include "Chained CPI"


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Congresswoman Chellie Pingree issued the following statement about news reports that President Obama's budget proposal will include a chained CPI.

"No matter what you call it, a chained CPI is a cut to Social Security benefits. For someone who retires today, that cut would mean they would be getting $650 less a year when they are 75 and over $1,100 less a year when they reach age 85. Seniors shouldn't be facing cuts to the benefits they have earned while millionaires and billionaires are getting a tax break. Social Security, Medicare and Medicaid are vital to the economic security of Maine people and I will vote against cuts to benefits in these programs."

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