From Social Security Works (http://www.socialsecurityworks.org/):
This morning, next year’s cost-of-living adjustment for Social Security was announced. It is a meager 0.3 percent — $5 per month.
That $5 will not cover the cost of prescription drugs, which rose by 10 percent in the past year. Nor will it cover the rising costs of other out-of-pocket expenses like food, clothing, and utilities.
Yet many DC politicians, like Rep. Paul Ryan, still think a $5 per month COLA is too generous! They want to make Social Security part of the annual budget so that they have the opportunity to cut it every single year.
Go to http://salsa.wiredforchange.com/o/6405/p/dia/action3/common/public/?action_KEY=12508 and tell Congress: Now is the time to expand Social Security to reflect the rising expenses beneficiaries face — NOT cut it.
Last year’s cost of living increase was zero. For all Social Security beneficiaries who receive Medicare, next year’s COLA is likely to go entirely towards rising premiums. So it is effectively zero once again.
Meanwhile, Wall Street millionaires and billionaires are raking in record profits — while not paying their fair share into Social Security. In fact, they are the ones lobbying Congress to cut our modest Social Security benefits!
With expenses rising every year, it’s time for a real increase in benefits.
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