Rick Nolan on Social Security

Don't turn Social Security over to Wall Street

Sponsored keeping CPI for benefits instead of lower "Chained CPI".

CONCURRENT RESOLUTION expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to adjust Social Security benefits.

• WHEREAS the Social Security program continues to provide modest benefits--averaging approximately $14,000 per year--to more than 53,000,000 individuals
• WHEREAS the Trust Fund can pay full benefits through 2032;
• WHEREAS the Social Security program is designed to ensure that benefits keep pace with inflation through cost-of-living adjustments based on the CPI which measures prices of goods and services;
• WHEREAS the Chained CPI adjusts for projected changes in consumer behavior resulting from price fluctuations known as the 'substitution effect', which occurs when consumers buy alternative goods and services whose prices are rising more slowly than average;
• Now, therefore, be it RESOLVED that the Chained CPI should not be used to calculate cost of living adjustments for Social Security benefits.

  Opponent's argument against bill:(Congressional Testimony by Jeffrey Kling, Congressional Budget Office Associate Director for Economic Analysis, April 18, 2013):

  The chained CPI grows more slowly than the trad

  Source: H.CON.RES.34 & S.Con.Res.15 13-HCR34 on Apr 18, 2013

  Rated 100% by ARA, indicating a pro-Trust Fund stance.

  Nolan scores 100% Alliance for Retired Americans

  Scoring system for 2014: Ranges from 0% (supports privatization and other market-based reforms) to 100% (supports keeping federal control over Trust Fund and Social Security system).

  About ARA (from their website, www.RetiredAmericans.org):

  The Alliance for Retired Americans is a nationwide organization, founded in May 2001, with now over 4.2 million members working together to make their voices heard in the laws, policies, politics, and institutions that shape our lives. The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security.

  • Alliance members visit the polls in record numbers. We use the power of our membership and our Congressional Voting Record to educate and mobilize seniors to elect leaders committed to improving the lives of retirees and older Americans.
  • We are effectively warding off cuts to our most important social programs like Social Security and Medicare. Our Human Chain Against the Chained CPI events in the summer of 2013 took place in more than 50 cities and mobilized support for stopping this cut to earned Social Security benefits.
  • We blocked the privatization of Social Security with our Social Security "Truth Truck" delivering 2.1 million petitions to Members of Congress and other tactics.
  • The Alliance makes its voice heard on the issues that matter not just to current retirees, but to all Americans who hope to retire one day. We were a leading voice in recent debates considering changes to Medicare, like replacing guaranteed benefits with a voucher system, and remain so in 2014.
  Source: ARA lifetime rating on incumbents of 113th Congress 14_ARA on Jan 1, 2013

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  2012 Governor, House and Senate candidates on Social Security:			Rick Nolan on other issues:
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  Page last updated: Feb 29, 2016