OK, let's say it happens and the Feds save 122 Billion over ten years
Aside from the obvious, what will be the costs? Yes the Chained CPI would make life a little harder for millions of people who receive Social Security, and for some sub set of those life would likely get a lot harder - but would we really save 122 Billion in return?
What happens when people with an average income of, say, $15,000 get squeezed - even though those making $1,000 a month still manage to fall above the so called poverty line? What happens when people put off going to the doctor? What happens when people ration out their medication instead of taking it as prescribed? What happens when older people in particular live in chilly apartments and homes in order to save on heat? What happens when they fail to eat well? How many chronic illnesses will worsen and require more expensive care? What are the costs to society? What are the costs to taxpayers?
What happens if more Seniors can't afford to stay in their current homes, and start skirting with eviction? How many will end up in assisted living programs prematurely? Where does that money come from? How much of their financial shortfalls will their children need to absorb, and how will that effect the ability of the next generation to save for their own futures?
How much are we really talking about saving with this move, and is it really worth it?
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