The federal government is considering using a new way to calculate cost of living adjustments for veterans benefits and Social Security called chained CPI. Angela Cortez with AARP explains.
AARP says one in five Pennsylvanians receives Social Security. The group also says the change will impact the oldest of Americans the most because they will lose more benefits over time – especially women, because they tend to live longer and have lower retirement incomes.
Supporters of chained CPI say it will reduce the federal deficit.