Congress is starting to consider ways to send some extra money to the 50 million Social Security recipients who otherwise won’t be getting a raise next year. It’s the the first time since the automatic cost-of-living adjustments were added to benefits in 1975, that seniors will not see their benefits increase.
Legislation is in the works to provide an “emergency” bonus or raise for social security benefits, despite the dive in the cost-of-living index. This year, prices have fallen every month, and there’s no chance that the index will suddenly turn higher with one month left before the cost-of-living adjustment is set. Frustrated seniors and concerned advocates are urging lawmakers for additional compensation, and several proposed fixes are being considered.
http://www.chicagotribune.com/business/chi-thu-burns-social-security-09sep24,0,5033971.story
http://www.buffalonews.com/home/story/803057.html
Tags: benefits, consumer, economy, retirement, social security
Do you Want to say something?