We need to move to a better formula when it comes to figuring COLA for social security recipiants. 2.5% COLA this year when inflation has been much higher does not work. Utilities,groceries,gas went up much more. There is another formula that can be used that give us a more realistic amount, medicare costs keep going up yearly, people worked for their SS deserve better than this they should not be afraid of losing their homes. 2024 Biden administration gave government workers an extra 2% COLA so they ended up at 5% not one Senator demanded answers for how that happened. Nor demanded SS recipiants be given the same
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Or at least raise the amount we can make under the SSI laws so we can provide for ourselves without loosing our benefits. If I make $2 more in the month, than the $1450, I am allowed to earn as additional income as a married SSDI recipient, they begin taking $1 from my SSDI income. There is no way an average person can survive under the current guidelines.
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There is a bill that addresses this matter:
The Fair COLA for Seniors Act of 2023 (H.R.716) aims to increase cost-of-living adjustments (COLA) for Social Security and other federal benefits by basing them on the Consumer Price Index for Elderly Consumers (CPI-E). The CPI-E reflects price changes for goods and services that people 62 and older spend money on.
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Ive been watching this as well and hopefully it will gain traction. Sadly it always seems SSI/SSDI is rately talked about unless its a few days after the release statement of the yearly increase.
I am surprised that of all the people rallying different causes people wont make a push for the elderly and disabled.
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Our own congress people don’t care and that is sad. I just don’t know who to contact to get congress to act.