Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. There will be NO cost of living raises for at least 2 years!
Obama is doing so well, isn’t he? Really taking care of seniors….
By law, Social Security benefits cannot go down – thank God, or Obama would have taken that already!
But the monthly payments would drop for millions of people in the Medicare prescription drug program because the premiums will go UP.
"For many elderly, they don’t feel that inflation is low because their expenses are still going up," said David Certner, legislative policy director for AARP. "Anyone who has savings and investments has seen some serious losses."
Critics argue that Social Security recipients shouldn’t get an increase when inflation is negative. Those critics will be old one day. Small comfort now.
They note that recipients got a big increase in January — after energy prices had started to fall. They also note that Social Security recipients received one-time $250 payments in the spring as part of the government’s economic stimulus package.
"Seniors may perceive that they are being hurt, but they are in fact not getting hurt," said Andrew G. Biggs, a resident scholar at the American Enterprise Institute, a Washington think tank. "Congress has to be able to tell people they are not getting everything they want."
How about telling the dumbass in office that he cannot get everything he wants??
Social Security is also facing long-term financial problems. The retirement program is projected to start paying out more money than it receives in 2016. Without changes, the retirement fund will be depleted in 2037, according to the Social Security trustees’ annual report this year.
President Barack Obama has said he would like tackle Social Security next year, after Congress finishes work on health care, climate change and new financial regulations. Yeah, there is no money for those things and so no money for SS. But he does not care.
Advocates for seniors hope their efforts will get a boost in October, when the Social Security Administration officially announces that there will not be an increase in benefits next year.
"I think a lot of seniors do not know what’s coming down the pike, and I believe that when they hear that, they’re going to be upset," said Sen. Bernie Sanders. Ya think?
execute the czars
impeach Obama
