Obama's fix would trim Social Security checks

The chained CPI's effects would be cumulative for Witherspoon and other seniors like her, since each year's COLA would be calculated off a lower benefit amount as the years roll on. It's an especially important consideration for women, who tend to outlive men. The National Women's Law Center calculates that a senior with a benefit of $1,400 per month ($16,800 annually) would lose a cumulative $8,100 in benefits by age 80, $19,256 at age 90 and $24,976 at age 95.