Sen. Tom Harkin (D-Iowa) held a town hall for a group of seniors at the North Senior Center in Polk County, Iowa on Tuesday to discuss President Obama’s possible plan to reduce Social Security payments.
The Obama administration is considering a "chained CPI," which means someone who starts getting Social Security checks at age 62 will see their benefits cut by 7.32 percent yearly until they turn 88, even as the cost of living goes up.
“I’m sorry to say that the president of my own party has advocated this and he’s wrong. I’m so tired of people saying 'we’ve got to cut Social Security.' I thought, we got to come back and say something, 'no, you’ve got to increase Social Security,'" said Sen. Harkin (video below).
He explained how his proposed Social Security bill would do just the opposite of the chained CPI.
According to WHO-TV, Harkin said his bill would raise monthly Social Security payments by $65 a month. This would be paid for by lifting the cap that only taxes the first $113,700 of a person’s income for Social Security, which Republicans oppose.
One elderly woman, Sheryl Tenicat, begged for Social Security not to be cut by the White House.
“I have $624 a month, that’s what I’m living on. Ninety-nine of that goes to Medicare Part D and B. After I get my check, in two weeks, it’s gone. I have nothing. I live with what I eat here. And I just do not want my cost of living cut because I’ve paid in since I was 16 to the government," said Tenicat.
"I’m looking for work in my retirement years so that I can exist. I do own my house, but I don’t know how long that will go because I have property taxes to pay. There is no way for me to eat less."