SSP Shrink for First Time in a Generation

WASHINGTON -- Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise.

The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.

By law, Social Security benefits cannot go down. Nevertheless, monthly payments would drop for millions of people in the Medicare prescription drug program because the premiums, which often are deducted from Social Security payments, are scheduled to go up slightly.

http://www.foxnews.com/politics/2009/08/23/social-security-payments-shrink-time-generation/

Me thinks the Senior Citizens are really going to be unhappy when they show up at the Precincts come next Primary day.



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And if you read the article, there is a proposal to pay the COLA even though the guidelines do not warrant it and to pay for this, raise the amount of income for Social Security taxed.

Our "leaders" are scared shirtless to take a stand and do the right thing which is to take a look at curtailing some of the spending in SS and Medicare. All they want to do is raise taxes.

Pitiful.