General Discussion
In reply to the discussion: I owe some DUers an apology. [View all]MannyGoldstein
(34,589 posts)Yes, CPI is driven by statute. But that's not what's at issue here - what's at issue is whether the current CPI (Consumer Price Index for Urban Wage Earners and Clerical Workers) formula used for Social Security, and (according to Sanders) wounded-veteran benefits and taxes, should be one that will increase more slowly (Chained Consumer Price Index for All Urban Consumers).
You'll notice that neither of those CPI names mentions retirees. Interesting, no?
It turns out that the BLS (the people who calculate CPIs) *do* have a CPI for the elderly - it's called the Price Index for the Elderly. Strangely enough, it shows that the current CPI is too low. Again, it shows that the current CPI is too low.
So the CPI in use already understates inflation for the elderly, yet some want to understate it even more. This is shameful.
So now it's your turn to do some research: for each of the purposes mentioned in the page you link to, would lowering the CPI calculation help or hurt working Americans?
I look forward to your list.