Many seniors have fallen on extremely hard times, savings and retirement funds have collapsed, Over 25 million aged 60 and older are economically insecure — living below the poverty level. These older adults struggle with rising housing and health care bills, inadequate nutrition, lack of access to transportation, diminished savings, higher food costs.
Twenty-one percent of married Social Security recipients and 43 percent of single recipients age 65 plus depend on Social Security for 90 percent of their income, millions of older adults struggling to meet their monthly expenses. Social Security checks aren't keeping up with costs.
Social Security's annual inflation adjustment has been adjusted years ago. Barack Obama thought it was too much, so it was cut down; a good example, some years they didn't get any increase, now some seniors are getting only a dollar more in 2018 than they got in 2017.
The COLA doesn't measure inflation accurately. Polina Vlasenko, a senior research fellow at the American Institute for Economic Research, said the CPI-W was constructed to measure spending patterns of urban wage earners, and it's pretty clear that retired people spend differently than wage earners. Another survey said most retirees said their monthly expenses rose more than $119 a year. Other research by the same group shows that social beneficiaries lost 31 percent of their power since 2000.
Washington politicians have pushed the deficit up to the clouds, again conspiring against seniors as the cause, yet throwing billions on immigration, and increasing it each year. It never stops.
Albert Vallarano, Bismarck