Mar 9, 2010

Catch 22

The year 2010 looks like it's going to be a rough ride for many seniors, veterans and disabled individuals. Last week the Senate rejected a proposal to provide $250 checks to some 57 million individuals who will receive no social security cost of living increase this year.

This is the first year since 19 75 that there's been no cost of living increase, due to the decline in theconsumer price index. Of course, so many other economic pressures are pressing in on seniors, including dramatically higher insurance and health care costs. What a Catch 22.

Forty Republicans and ten Democrats voted against the amendment, citing concerns over the ballooning budget deficit and stating that passing the bill would defeat the purpose of indexing Social Security payments to inflation. Read more here.

Tough times for our nation, tough times for seniors. Cinch in your belts, everyone.

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