SOCIAL SECURITY INCREASES: Fair Cost of Living Increase Adjustments (COLA) based on REAL & ACCURATE inflation numbers for those on Social Security. Our inflation is sky high and the COLA increase this year was slightly over 2% which will hardly pay for a meal or tank of gas.
COLA increases should NEVER be lower than 5% but when inflation is high it should truly reflect the economy. Even in a strong economy, senior citizens should get a cost-of-living increase each year never less than 5%.
Too many senior citizens struggle between paying for a medication’s and food or essentials. We have to take care of the elderly. This is not a handout. This is money that they paid in for close to 50 years or longer. Congress took from Social Security several times. Perhaps the answer is to cut salaries of Congress to cushion Social Security benefits.
Economist say when seniors receive extra money, they spend it contributing to a stronger economy.