THE NATIONAL COMMITTEE TO PRESERVE SOCIAL SECURITY & MEDICARE
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December 8, 2010

NEWS RELEASE

America’s Seniors Face 2nd Year Without a COLA Increase

House Vote Rejects One-Time Payment for Seniors

“The cruel irony of Washington’s priorities continues to hit home for America’s seniors.  While Congress and the White House negotiate a tax deal which extends trillions of dollars of tax cuts for wealthy Americans, today we’re told that providing $250 for America’s seniors and their families is considered too generous. The House has ignored the reality that despite a relatively low rate of general inflation, seniors' costs aregoing up.  Health care costs especially are rising, and the elderly on fixed incomes spend a significantly larger share of their income on health care.  This economy has only made the situation worse.
For the millions of seniors who rely upon Social Security as their only source of income, and millions more who rely upon it for at least half of their income, a cost of living adjustment in their Social Security benefits is not a luxury, it’s a necessity.  We also know that money in the hands of seniors is successful stimulus.  The 2009 Social Security payment in the stimulus bill translated to about 125,000 jobs created or saved due to these payments.
No cost of living increase for two years in a row – no one-time relief for seniors – and promises of benefit cuts ahead.  It’s no wonder so many middle-class seniors’ and their families feel such a disconnect with some in Washington. ” ...Barbara B. Kennelly, President/CEO

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