Chained CPI represents a shattered promise—at a high cost—to seniors, to people with disabilities, and to veterans. Proponents of chained CPI portray it as a more accurate indicator of the cost-of-living. It is based on the notion that when the cost of an item goes up, you simply switch to a cheaper alternative. But, that cost would grow higher year by year, making it increasingly harder to pay for groceries or heat or medicine.
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