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If the CPI adjustment had taken effect, someone who had been receiving Social Security in 1996 would be getting about 13percentt less in their monthly check today (a cut of roughly 1percentt a year for 13 years).
If the Democrats in the Congress had joined the chorus of those pushing for a CPI adjustment, it is very likely that it would have gone through.
As soon as the CBO windfall came over the horizon, CPI adjustment vanished.
In cases where the CPI adjustment is the largest, it could still be that pensioners are losing out.
The point is that we shouldn't be doing benefit cuts at all; but if benefit cuts are the price of a deal that is better than no deal, much better that they involve the CPI adjustment than the retirement age.
The CPI adjustment does not go below zero.
Similar(43)
All prices were adjusted to 2009 dollars using the Consumer Price Index (CPI) (Bureau of Labor Statistics 2013).
The condylar position indicator (CPI; Panadent Corp ,Grand Terrace, CA) was designed to measure these discrepancies in 3 planes of space.
"People's incomes are virtually stagnant, but because the government insists on using RPI instead of CPI (Consumer Price Index), rail fares will go up by about 1%," spokesman Bruce Williamson said.
Like CPI, RPI inflation is calculated from a sample of retail goods and services.
On May 11, China reported a 1.5% CPI (Consumer Price Index) decline for April, the third straight month of falling consumer prices, while wholesale prices fell 6.5%.
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