CALL FOR A NEW MEASURE FOR DETERMINING COST-OF-LIVING ADJUSTMENTS TO SOCIAL SECURITY

WHEREAS, for far too many Americans, Social Security is their only source of income after retirement; and

WHEREAS, this year Social Security recipients saw a 1.5 percent cost-of-living adjustment (COLA) in their payments that fails in particular to reflect the real impact of rising prices on senior citizens; and

WHEREAS, the cost of living has gone up for all Americans but especially for older Americans who have higher medical, dental and prescription drug expenses, which often rise faster than the general rate of inflation; and

WHEREAS, a new consumer price index that more realistically tracks inflation for elderly Americans and which is known as the CPI-E has been created and needs to be adopted by the federal government for use in determining cost-of-living adjustments to Social Security; and

WHEREAS, U.S. Sen. Tom Harkin (D-lowa) has introduced a bill for the government to adopt the CPI-E:

RESOLVED, that the American Federation of Teachers will work to push adoption of the CPI-E so that Social Security payments are increased enough each year to help seniors cope with rising costs; and

RESOLVED, that the AFT commits to continue this struggle to ensure that seniors get the level of benefits that they have earned and need; and

RESOLVED, that the AFT also take action to win federal adoption of the CPI-E.