Navigation Links
Seniors Lose 31 Percent of Their Buying Power Since 2000; 2013 Annual Survey of Senior Costs Finds Expenses Have Increased More Than Twice as Fast as Social Security COLA

Alexandria, VA (PRWEB) May 16, 2013

Seniors have lost almost one-third of their buying power since 2000, according to the Annual Survey of Senior Costs, released today by The Senior Citizens League (TSCL). TSCL is one of the nation’s largest nonpartisan senior advocacy groups.

In most years, seniors receive a small increase in their Social Security checks, intended to help them keep up with rising costs. But since 2000, the Social Security Cost-of-Living Adjustment (COLA) has increased benefits just 38 percent while typical senior expenses have jumped 81 percent, more than twice as fast. Inflation has been at historic lows in recent years and seniors received a 1.7 percent COLA this year.

Categories and Costs Chart

“This survey illustrates why budget proposals that would cut the growth of COLAs would put millions of older and disabled Americans at risk of insufficient income to cover more growing expenses,” says Larry Hyland, TSCL chairman. “To put it in perspective, for every $100 worth of expenses seniors could afford in 2000, they can afford just $69 today,” Hyland adds.

A senior with the average Social Security benefit in 2000 received $816 per month, a figure that rose to $1,129.80 by 2013. However, that senior would require a Social Security benefit of $1,477.00 per month in 2013 just to maintain his or her 2000 buying power.

The study examined the increase in costs of 32 key items between 2000 and January 2013. The items were chosen because they are typical of the costs seniors must bear. Of the 32 costs analyzed, 20 exceeded the COLA. The selected items represent eight categories, weighted by approximate expenditure.

A majority of the 54 million senior and disabled Americans who receive Social Security depend on it for at least 50 percent of their total income, and one in three beneficiaries rely on it for 90 percent or more of their total income.

To help protect the buying power of earned benefits, The Senior Citizens League is fighting proposals to cut COLAs. TSCL has developed an online calculator for the public to learn how much a COLA cut would cost in Social Security income. Click here to calculate your COLA Cuts..


With about one million supporters, The Senior Citizens League is one of the nation’s largest nonpartisan seniors groups. Its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Visit for more information.

Press Contact:

Shannon Benton, Executive Director, 1-800-333-TSCL (8725) sbenton(at)tsclhq(dot)org

Mary Johnson, Social Security policy analyst, 540-832-5513, newslettersdirect(at)hughes(dot)net

Also Available to Journalists: Study Methodology and Interviews

Read the full story at

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Depression, Anxiety Tied to Physical Disabilities in Seniors
2. Climate Change Could Be Tough on Seniors Health: Study
3. Seniors Stop Taking Heart Drugs In Medicare Donut Hole
4. Strength Training May Give Boost to Seniors Brains
5. Seniors Undertreated for Asthma, and Many Skip Inhalers: Study
6. Exercise Plus Computer Time May Boost Seniors Brains
7. Great recession reflux amounts to more hunger among seniors
8. Under pressure from Medicare, hospitals hold more seniors for observation
9. The Tennessee Car Accident Lawyers at Michael D. Ponce & Associates Alert Public of CDC Survey Revealing Majority of High School Seniors Admitting to Texting Behind Wheel
10. With Home Sales Lagging, The Lakes at Pointe West Offers Solution for Seniors
11. With Home Sales Lagging, Watersong Offers Solution for Seniors
Post Your Comments:
(Date:11/27/2015)... ... ... According to an article published November 13th on, much ... revolved around the fact that proper dental care, both at-home and in the dental ... periodontal disease (more commonly referred to as gum disease) and diabetes. According to Dr. ...
(Date:11/27/2015)... ... November 27, 2015 , ... The rapid speed at ... people age, more care is needed, especially with Alzheimer’s, dementia and other cognitive ... being overworked. The forgotten part of this equation: 80 percent of medical care ...
(Date:11/27/2015)... PA (PRWEB) , ... November 27, 2015 , ... ... how filthy the toilets were," said an inventor from Hillside, N.J. "Many people ... improved seat cover so that individuals will always be protected from germs." , ...
(Date:11/27/2015)... ... November 27, 2015 , ... ProSidebar: Fashion ... Cut Pro X. With ProSidebar: Fasion, video editors can easily add an informative ... a minimalist title opener. Utilize presets featuring self-animating drop zones, lines, bars, and ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... of the well-respected Microsoft Dynamics SL User Group (MSDSLUG). Recognized as Microsoft’s official ... independent group of Microsoft Dynamics SL software users, partners, industry experts and representatives. ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... announced the addition of the  "2016 ... the Global Cell Surface Testing Market: ... report to their offering.  --> ... addition of the  "2016 Future Horizons ...
(Date:11/26/2015)... Research and Markets ( ) has ... Market by Type (Dressings, Therapy Devices, Active Wound Care), ... Facility), and Geography - Global Forecast to 2020" ... --> The purpose of this report ... the global advanced wound care market. It involves deep ...
(Date:11/26/2015)... 26, 2015 ) ... Administration of High Viscosity Drugs" report to ... announced the addition of the "Self Administration ... offering. --> Research and Markets ( ... "Self Administration of High Viscosity Drugs" ...
Breaking Medicine Technology: