AFGE: Chained CPI Deal Harmful for Federal Workers, Middle Class

'..."This move marks a shameful abandonment of his campaign promises to protect the middle class and the needy from tax increases or harmful benefit cuts," Cox said. "The currently used measures of inflation from the Bureau of Labor Statistics, the CPI-U and the CPI-W, already understate inflation for the elderly. This change will cause a large hit to federal pensions, Social Security benefits, Veterans' benefits, and federal benefits to poor children and the disabled. It also will raise taxes substantially on the poor and middle class, while leaving the rich untouched." PR Newswire (http://s.tt/1xhPP) ...'

Reference: www.prnewswire.com
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