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Millionaire Elizabeth Warren: My Brother Lives on $13K a Year from Social Security

BEGIN TRANSCRIPT

RUSH: Elizabeth Warren "made it clear Wednesday in an e-mail to supporters that not only would she oppose President Barack Obama's plan to cut Social Security benefits through a cost-of-living adjustment known as chained CPI..." That's another thing. It's Obama's creation. The chained CPI is like the sequester. It's his idea, it's in his budget, and wait until you hear it! I've got three or four sound bites of Jay Carney and Obama denying it; accusing the Republicans of doing it. I dare say that 99-out-of-100 low-information people don't have the slightest idea what it is.

"What do you mean, 'chained CPI'? What is that."

It's the Consumer Price Index. It's a technique for being able to manipulate inflation the way you want it in order to either keep costs down or send them skyrocketing. When it comes to benefits being provided, or being cut, chained CPI would link whatever benefits we're talking about -- their increases or decreases -- to the Consumer Price Index. It would link them inexorably with hardly any flexibility whatsoever. So it's Obama's idea. It's in his budget.

But he and Jay Carney and a bunch of Democrats are saying, "No, no, no! That's a Republican idea. They came up with it." Anyway, Elizabeth Warren "made it clear Wednesday in an email to supporters that not only would she oppose President Barack Obama's plan to cut Social Security benefits through a cost-of-living adjustment known as chained CPI," thereby admitting it's his idea, "but that she was 'shocked to hear' it was included in the White House's budget proposal at all."

Because the effort is underway to make this a Republican idea, and it's in Obama's budget. Even though it's in Obama's budget, Jay Carney is out trying to say it's a Republican idea. Well, what Elizabeth Warren said next is the point here. "Warren said her brother David lives on the $13,200 per year he receives in Social Security benefits. 'I can almost guarantee that you know someone -- a family member, friend, or neighbor -- who counts on Social Security checks to get by,' she wrote."

"Today my brother lives on his Social Security. That's about $1,100 a month. $13,200 a year." Now, Elizabeth Warren's net worth is $14.5 million, her brother lives on $13,000 from Social Security, and she's up bellyaching about the chained CPI because of the limits in the increase in benefits her brother and other Social Security recipients are gonna get. Her brother lives on $13,000 a year. She has millions of dollars. Now, are families not supposed to help each other anymore?

This is totally the government's job, and what that means is that Mrs. Warren says that you need to pay for her brother? Because where does the government get its money? It gets it from us. So you ought to pay for her brother! She's not gonna help her brother. Obama doesn't help his brother, who lives in a hut in Kenya. So you have a senator from Massachusetts actually complaining about the chained CPI and the way it will limit increases because her brother lives on 13 grand, while she and her husband have multiple millions of dollars.

I'm sorry. In a pure compassion realm, that doesn't compute with me. I thought these people owned compassion and understanding and charity and sharing and so forth! But I keep forgetting: Not with their money! It's always everybody else's they spend. She's not gonna spend a dime of her money on her brother.

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