With an expected announcement of no Social Security cost of living adjustment (COLA) in 2010, AARP CEO Barry Rand called on House and Senate leaders to provide $250 in emergency relief to millions of older Americans who are struggling in this economic climate. AARP will work with members of Congress from both sides of the aisle to urge quick passage of legislation that will help combat rising health care and prescription drug costs that consume an increasing amount of seniors’ income each year.
Oct 2, 2009
AARP Supports Special $250 Payments
A press release from the American Association of Retired Persons (AARP):
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5 comments:
Spend, spend, spend. Are the elections here yet?
And, in the alternative, we shall spend spend spend on wars, and weapons, and nasty little excursions in Central and South American countries. And, we'll give the insurance companies more money so they won't raise our health insurance rates, and they'll raise 'em anyhow. And, we'll make it advantageous for corportations to export jobs....I know, whine, whine, whine. All those liberals do is whine. Snark attack was successful.
For all you Repubs who can't wait for the return of Bush 3 just remember that when Bush 2 took office we had a 7 billion dollar surplus. Just like every other business he has ever touched, he destroy the US economy as well and sent our sons and daughters to die for a false war. So unless you are filthy rich you are a bone head for voting republican.
Well said, A#2! Nancy O.
The non-COLA special payment may be bad for Social Security.
Social Security is not supposed to be welfare. If seniors need welfare, i'm all for seeing that they get it.
If benefits need to be raised... as by a CPI that reflects the actual cost of living for retired persons... i'm all for that, and for the payroll tax raises needed to pay for it as the Trust Fund is used up.
But it is important to distinguish between "helping the elderly" and "protecting Social Security." They are not the same thing.
The cost of preserving Social Security, according to present projections of the Trustees, would amount to a tax raise averaging 20 cents per week per year. This does not seem to be a huge burden, given that incomes will increase an average of 10 dollars per week per year over the same time, and the reason the tax increase would be required is the need to pay for a longer life span in retirement than our grandparents could look forward to.
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