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Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.
They will be getting less money due to Medicare cost increases.
They are already not happy about obamacare, this should send them into a rage.
Now I have the image in my head of thousands of pensioners smeared in blue war paint, charging over the crest of a lush hill in the highlands while waving their canes above their heads.
They make take our lives, but they'll never, take, our, freedom!!!
Check the current CPI - they actually are getting a raise.
To a Social Security recipient counting on that extra $20-$40 a month come Jan 1, the CPI means little. They are still going to have to pay utilities (which in my area aren't going down in price), have Medicare premium deducted from their check (which goes up each year.) Chances are as the individual ages, s/he is going to require more meds or other costly medical accessories not covered by Medicare. Not all of them have family to turn to, either.
We're fortunate that we can discuss this without concern about how much a stamp costs to mail a bill, or what the latest cable bill or phone company increase is. If the SS recipient lives in NYS, we were just hit with more taxes at many levels which will negate any changes to the CPI which would be considered postive to the SS beneficiary.
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