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Social Security's Cost of Living Adjustment is Inadequate. Democrats Have a Plan to Fix That.

Originally published at http://www.commondreams.org/views/2020/10/13/social-securitys-cost-living-adjustment-inadequate-democrats-have-plan-fix

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Well I would like to believe that but unless they double every ones pay out and stop using fake govt. numbers for yearly raise I’ll take a wait and see position.

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After high inflation numbers were a factor in Republican Ford losing the 1976 election and Democrat Carter losing the 1980 election, both parties started cooking the books, understating the rate of inflation, so that they would never again be blamed for high inflation.

Can Social Security beneficiaries ever recover from four decades of discounted COLAs, especially with the added inflation COVID-19 is driving ?

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Reagan was the first president to start barrowing from S.S. That should tell you something.

Why not reverse the tax cuts for the wealthy which is what is fueling the deficit for the most part anyway. Not that Reps care about the deficit really anyhow.

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Joe Biden is going to be a war President. Lol!

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If anyone believes that Biden is going to help people who are depending on Social Security, I have some swampland (that I don’t even own) to sell them.

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it would be comical if it wasn’t so sad… btw geneva raised their minimum wage to $25/hour

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The author ends “That is one concrete gain Americans will achieve if Democrats win this November.”
But the Democrats did not have to wait for this November to make things right. And also, it is precisely because they don’t want to do anything for the unwashed masses, that the Democrats (s)elected Joe.

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But no mention of the extortionate rents that leave ss pensioners facing the prospect of having to somehow eke out an existence in small, isolated towns with no amenities and no way to travel.

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But the cost of living in Geneva (Genf) is about 2X that of comparable cities in the US such as NYC or DC. It is expensive!

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The last democratic party president is the only president I know of who did not provide social security increases two years in a row.

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Social Security should be tied, at the minimum level, to the cost of living. For that matter, a minimum income for all should be tied to the cost of living.

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He won’t end it like Trump will. He needs to feel the heat on this and other issues from day one – assuming he actually gets selected.

Nancy is wrong.
“have earned their Social Security.”

Not at all. The dollars taken for ss on my paystub goes to orphans, widows and retirees immediately.
It is a tax, not a pension plan or savings plan.

It is a government gift. The systems can be improved.
And please remember that 4 million grandparent households are
raising their grandchildren, usually without any more outside assistance
per AARP.

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I’m not on social security but keep close track of my monthly minimum required expenses such as food, water, shelter, car insurance and other things that aren’t discretionary expenses.
My cost of living has gone up at least 10% since COVID hit.
Most noticeable is in food prices, especially organic produce.
The stores tell me it’s part due to COVID issues and part due to California fires.
The prices of other items, such as isopropyl alcohol, have skyrocketed.
The cost of living has obviously gone up far more than 1.2%.
But the wealthy people who own and run our government don’t care.
They view social security-dependent seniors as excess baggage, liabilities, a demographic to be disposed of.
By the time I’m of retirement age, if the GOP succeeds in their decades-long quest to get rid of social security, I may well end up in poverty and homeless.
Thanks, GOP!

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Ijo6pac:
I read that in the early 1960s minimum wage was $1.65 an hour and Congress made $30,000 a year. NOW new Congress members makes something like $140,000 . They seem to be able to get that with cost of living raises----so it only seems fair that when people work their whole lives that they get a livable amount of money to retire with. and —sigh—it really is criminal that in Mitch land, the people in Kentucky still only get $7.25 an hour. I have no idea how they can even find a place to live in that state with $7.25 an hour wage. : (.

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Nobody has borrowed from Social Security. That is a right-wing false talking point used to undermine the public’s confidence in the system.

The approx. $3 trillion in the SS trust fund is invested in treasury bonds (IOUs of the federal govt) in order to earn interest. If it had been instead invested in, say, corporate bonds, our national debt would still be the same (about $23 trillion)…the only difference would be that all $23 trillion would be held by other entities instead of $20t being held by other entities and $3 trillion by the SS trust fund.

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Is it the swampland that trump promised he was going to drain?

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In the early ‘60’[s minimum wage was $1.25. It went up to $1.50 and then $1.65 in the very late '60’s. I was married in 1964 and had two childred by 1967. Rent for a nice place in good neighborhoods was $75 and you could buy a really nice older home for $10,000. Those same houses now sell for over $350,000. My grocery “allowance” was $20 a week for a family of four in the '60’s and there was little to no inflation.

I started taking my social security in 2008. Some years during Obama’s tenure, we got zero COLA. During his 8 years, we sometimes got 1% increases, but most of that was taken back by Medicare deductions in the same exact amount. So no raise at all. Now, 22 years later my SS payment amounts to less that $13,000 a year to live on. That is less than full time wages of $7.25 a year ($15,080). Nobody anywhere, let alone a family, can survive on that.

It doesn’t matter whether D’s or R’s are elected to any office at any level, State or Federal. The result is the same…poverty for the majority of people in the USA.

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Hi Rebel_Farmer:
sigh—and the rent everywhere goes up and up-----there are tent cities in almost every city. So, America. we appear to be the greatest nation in terms of taking care of its own CORPORATIONS------while little concern is given to WE the People----or as I have often said WEE the People—where so many electeds seem to quickly forget that a nation with no middle class is not a functioning nation. : (

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