WHEREAS, a majority of senior citizens and a substantial number of dependents, survivors, and disabled civilians and veterans need and rely on the Social Security benefits earned by themselves or their parents or spouses, said benefits being paid from one of the Social Security Trust Funds which the President and Congress are responsible to maintain;
WHEREAS, the Social Security benefits paid to these beneficiaries are currently subject to adjustment based on the annual increase in the standard Consumer Price Index (CPI); and these benefits are neither part of the federal budget nor part of the national debt; and
WHEREAS, President Obama has recently indicated that he is willing to have future cost-of-living adjustments to Social Security benefits determined by reference to a modified index (“Chained CPI”), which assumes that when prices rise, beneficiaries would need to purchase less costly (and often, less acceptable) items than those which determine the standard CPI; however, such approach fails to consider that most Social Security beneficiaries are not discretionary consumers of health care and other services, the costs of which continue to rise at unsustainable rates; consequently, the President’s proposed approach would likely result in increasingly detrimental reductions in payments to Social Security beneficiaries, critically decreasing the already fragile quality of their lives,
THEREFORE BE IT RESOLVED, that the California Democratic Party strongly urges President Obama, the National Democratic Party and the Democratic Congressional delegation from Californiato keep the “Chained CPI” and all other efforts to reduce Social Security benefits off the bargaining table with Congress; to defend the integrity of Social Security against any and all efforts to diminish its presence and historical value in our society—and preserve the dignity of its recipients; and to assure the continued solvency of Social Security by increasing existing Federal Insurance Contributions Act (FICA) rates on incomes from the present maximum.
BE IT FURTHER RESOLVED, that the California Democratic Party forward this resolution to the President of the United States, the National Democratic Party and each Democratic member of California’s delegation to Congress.