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SUGARSMOM2 SparkPoints: (258,161)
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3/2/11 6:32 P

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thank you joined his formu .will try to see if my state repesentetives are backing this . hope they are . we need all the help we can get now a days . budget harder to make it work less and less .

sugarsmom2 donna wva


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BARBBF's Photo BARBBF Posts: 5,066
3/2/11 8:42 A

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REP. ENGEL – SENIORS NEED MORE SOCIAL SECURITY HELP
02/18/11

Washington, DC -- Congressman Eliot Engel (D-NY-17) again called on Congress to support legislation he is re-introducing in the 112th Congress that would guarantee seniors a cost-of-living increase in their Social Security benefits. This is designed to help them avoid a repeat of their not getting such increases in the past two years. Due to the way the COLA is calculated, for the second consecutive year seniors did not receive a COLA increase in their monthly benefits. Before 2010, there had never been a year without an increase, since automatic adjustments for inflation was installed in 1975. Shockingly, seniors have lost about 24 percent of their buying power since 2000.

Rep. Engel’s legislation, the Guaranteed 3% Cost Of Living for Seniors Act, would guarantee a minimum three percent increase annually in COLA for Social Security recipients. Seniors spend three times more on medical care than those between the ages of 25-64. They spend 12.7 percent of their income on health, as opposed to 4.7 percent for people 25-64, according to Bureau of Labor Statistics (BLS) statistics.

“Seniors across the country need to keep up with the growing cost-of-living, especially in New York where it is higher than most states. Our challenging economic times make it even more important to put more money in their pockets so they can better make ends meet. Seniors are reliant upon Social Security as a major part of their finances and have counted on the COLA increases for decades. We must change the way it is calculated to avoid their losing a COLA ever again,” said Rep. Engel.



"The most potent weapon in the hands of the oppressor is the mind of the
oppressed." --Steve Biko


engel.house.gov/index.cfm?sectionid=
24
§iontree=6,24&itemid=2710


Edited by: BARBBF at: 3/2/2011 (09:14)
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