AARP Worries About Sequester
Written By: Tanja Rekhi
ELMIRA -- [WENY] The sequester deadline hits tomorrow. Among potential cuts-- social security.
Right now 2.4 million senior citizens in New York receive social security benefits.
AARP members are worried about talks in Congress to change the formula used to determine Social Security's annual Cost of Living Adjustment.
It's called "chained CPI" and assumes people settle for chaper substitutes when consumer prices go up.
But there are no substitutes for things like medicine, housing, and utilitties.
"There are many people that are below the average and we need help because the cutting will be devastating for so many people," said Charlotte Pickelhaupt, an AARP Member.
Chained CPI was left out of December's fiscal cliff deal, but may come to a vote in congress as part of a deal to avoid the so-called sequester.
"I'm 86 years old and part of the income I have is social security," said Margaret from Horseheads. She preferred not to give her last name.
"It's a little over $1,200 and I have a small pension and if they lose our social security or take it away from us, I don't know how I'm going to make out," said Margaret.
Ron Rehner has a son a daughter and grand children who say they're not planning on social security, so he fights to avoid anything that could result in cuts "to protect it so that it-- because this is really a big safety net for a lot of people."
In Chemung County, a Chained C-P-I means close to 42 million dollars in Social Security cuts.
The deadline hits tomorrow, so time will tell.