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Economists Agree: No Empirical Basis for Reducing the Social Security COLA (PDF)
Economic Policy Institute Link to more items from this source
[Opinion]
Nov. 21, 2012
"[T]he annual Social Security cost-of-living adjustment (COLA) should be based on the most accurate measure possible of the impact of inflation on beneficiaries. For this reason, [the authors] oppose proposals to reduce the Social Security COLA by tying it to a chained consumer price index that does not directly measure the actual expenditures of beneficiaries. Such a move would lower the COLA by an estimated 0.3 percentage points per year, translating into a 3 percent benefit cut after 10 years and a 6 percent cut after 20 years."

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