Navigation Links
Seniors to Receive $0.00 Increase in Social Security Next Year
Date:1/13/2009

Congressional Budget Office Forecasts First-Ever Zero Percent Automatic COLA Raise for 2010

WASHINGTON, Jan. 13 /PRNewswire-USNewswire/ -- The 37 million Americans aged 65 and over who receive a Social Security check each month are forecast to receive no increase in their Social Security checks next year, according to the Congressional Budget Office's (CBO) 2009 Budget Report.

That would mark the first time since automatic Cost of Living Adjustments (COLA) went into effect in 1975 that seniors would fail to get an increase. Since automatic raises were established, seniors have never failed to receive an annual increase of less than 1.3 percent.

The CBO's Budget and Economic Outlook: Fiscal Years 2009 to 2019, reads on page 29, "[The] CBO anticipates that the year-over-year change in consumer prices for the third quarter of 2009 will show a decline, which implies that next year's cost-of-living adjustment for Social Security and most other benefit programs will be zero."

"If Social Security benefits don't start catching up to the real rise in costs, we're going to see a wave of seniors falling beneath the poverty line," said Daniel O'Connell, chairman of The Senior Citizens League. "It's particularly outrageous that seniors may be forced to accept a $0 raise next year, as our lawmakers have just accepted a $4,700 raise for this year."

Supporters of a zero COLA increase will likely argue that such a move in a deflationary period is fair. However, they do not mention that the way the COLA is calculated fails to accurately track senior costs, since it is based on the spending habits of young, urban workers. As a result, senior costs may go up during periods of deflation, reducing their buying power even further.

A study released by The Senior Citizens League last year found that seniors have lost 51 percent of their buying power since 200
'/>"/>

SOURCE The Senior Citizens League
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2

Related medicine news :

1. Oral Health a Matter of Life and Death for Seniors
2. GAO Report Confirms: Medicare Underpays for Anesthesia Services; Nurse Anesthetists Assure Seniors Access to Safe Anesthesia Care
3. Seniors Need a Safety Plan in Face of Disasters
4. High Co-Pays Cause Seniors to Go Without Meds
5. Study finds drug spending caps cause some seniors to quit taking key medicines
6. Medicare Spending Caps Cause Seniors to Stop Meds
7. New Report: Dangerous Drug Side Effects and Deaths Doubled Since 1998... Seniors Hit Hardest
8. Medicare Cuts to Physicians Will Harm Washington Seniors
9. Obesity Wont Affect Seniors Memory
10. Study finds drug spending caps cause some seniors to quit taking key medicines
11. New York Times Exposes Harm to Seniors After Private Equity Buyouts of Nursing Homes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2013)... Pompton Plains, NJ (PRWEB) May 25, 2013 ... Apple’s iPhone. The universal app version of Word Hunt ... Universal app versions of Concentration, Edge Match, Flash 2, Sudoku ... , The brain games’ gameplay and revolutionary lifetime brain ... and 4 inch displays. , “100 years of brain fitness ...
(Date:5/25/2013)... IBISWorld estimates that revenue for the Cell Therapy ... 28.7% to $1.0 billion in the five years to 2013, ... no new cell therapy products were introduced, according to IBISWorld ... period. In the years since, however, the Food and Drug ... to the industry's fast growth during the five years to ...
(Date:5/25/2013)... For college students, few events ... they are turning to prescription stimulants like Adderall ... more on this, go to http://www.sciencedaily.com/releases/2013/05/130501145151.htm . ... that students who pick up Adderall, “just to ... developing a physical and psychological dependency. While initially ...
(Date:5/25/2013)... Ayurveda is the traditional medicine of ... of life". While a medical science, its scope enters into ... Its fundamental philosophy is that disease is the end result ... that in order to re-establish optimal health, we must discover ... a life style which brings us back into harmony. , ...
(Date:5/25/2013)... Arizona (PRWEB) May 25, 2013 The current ... Center, their parents, and the B2B staff all came together ... everyone enjoyed an array of Indian Cuisine, the residents got ... company, for helping them on their road to recovery, and ... the Drug and Alcohol center in 2010 after realizing the ...
Breaking Medicine News(10 mins):Health News:Acuity Games Apps Come to the iPhone 2Health News:Slow Healing: Cell Therapy in the US Industry Market Research Report Now Available from IBISWorld 2Health News:Slow Healing: Cell Therapy in the US Industry Market Research Report Now Available from IBISWorld 3Health News:Addiction and Drug Abuse: Study Drug Adderall Abuse Spikes During Finals 2Health News:Ayurveda Education Programs Offered by the California College of Ayurveda Include Panchakarma Certification, Practitioner Courses, and Body Therapy Classes 2Health News:Back2Basics Drug and Alcohol Rehabilitation Center Celebrates Their 3rd Anniversary 2
... Minneapolis for a one-day summit on Jan. 20, to ... (ICD) leads, which recently underwent a Class I FDA ... Mayo Clinic have organized the summit to develop a ... leads. Approximately 80,000 active patients have Riata or ...
... instance when the smaller sibling gets to call the shots ... has long been known to be a checkpoint in cell ... until their DNA has been fully replicated or repaired. Now ... of Technology have discovered a shorter form they,ve dubbed Chk1-S ...
... HealthDay Reporter , MONDAY, Jan. 2 (HealthDay News) ... at relieving neck pain in the long term than ... spinal manipulation therapy for neck pain also reported greater ... "We found that there are some viable ...
... Pirfenidone inhibits the development of inflammation and scarring (fibrosis) ... treatment of mild to moderate idiopathic pulmonary fibrosis (IPF) ... assessment in accordance with the Act on the Reform ... Institute for Quality and Efficiency in Health Care (IQWiG) ...
... (Boston) - The first-ever published whole-genome sequences of not just ... that both unusual and common genetic phenomena contribute to the ... the study -- led by researchers from the Boston University ... -- will be available to researchers around the world at ...
... State University researchers one working at a medieval burial ... East Lansing have shown how modern science can unlock ... first to confirm the existence of brucellosis, an infectious disease ... findings, which appear in the American Journal of Physical ...
Cached Medicine News:Health News:Summit seeks to inform electrophysiologists on Riata ICD recall 2Health News:Smaller sibling protein calls the shots in cell division 2Health News:Spinal Manipulation, Home Exercise May Ease Neck Pain 2Health News:Spinal Manipulation, Home Exercise May Ease Neck Pain 3Health News:Spinal Manipulation, Home Exercise May Ease Neck Pain 4Health News:Pirfenidone: Extent of added benefit assessed 2Health News:Pirfenidone: Extent of added benefit assessed 3Health News:Genetic predisposition to disease common in 2 supercentenarians: New study 2Health News:Scientists crack medieval bone code 2
(Date:5/24/2013)... CHESTERBROOK, Pa. , May 24, 2013  Auxilium ... that executive management will participate in the Deutsche Bank ... the Westin Boston Waterfront Hotel.  Mr. Adrian ... scheduled to present an overview of the Company and ... May 29, 2013.   (Logo: http://photos.prnewswire.com/prnh/20101202/MM10881LOGO ...
(Date:5/24/2013)... BEIJING , May 24, 2013  Sinovac ... leading provider of biopharmaceutical products in ... main operating subsidiary company of Sinovac, obtained the ... (GMP Certificate) from the China State and Food ... district bulk production plants, and its Changping filing ...
(Date:5/24/2013)... England and BOSTON , May 24, ... discovery and development company, is pleased to announce that it has ... to augment the Company,s business development capabilities in Japan ... more than 15 years of experience in business development, licensing and ... Sciences, Inc., Roche Pharma ( Japan ), Nippon Roche ...
Breaking Medicine Technology:Auxilium Pharmaceuticals, Inc. To Present At The Deutsche Bank Health Care Conference 2Auxilium Pharmaceuticals, Inc. To Present At The Deutsche Bank Health Care Conference 3Auxilium Pharmaceuticals, Inc. To Present At The Deutsche Bank Health Care Conference 4Sinovac Beijing Obtains China GMP Certificate Under the New GMP Guidelines 2Sinovac Beijing Obtains China GMP Certificate Under the New GMP Guidelines 3Heptares Augments Business Development Capabilities in Japan and Other Asian Territories 2
... MERCER ISLAND, Wash., Dec. 22, 2010 Renal Advantage and ... the third largest provider of dialysis services in the U.S., ... – terms of which were not disclosed – was completed ... serving more than 19,000 patients in 260 locations in 32 ...
... AstraZeneca (NYSE: AZN ... will discontinue the development of CERTRIAD™ (rosuvastatin calcium and fenofibric ... dyslipidemia. This means the co-development and license agreement with Abbott ... Complete Response Letter (CRL) for the CERTRIAD New Drug Application ...
Cached Medicine Technology:Renal Advantage and Liberty Dialysis Deal Completed 2Renal Advantage and Liberty Dialysis Deal Completed 3
... BioControl multichannel has the ... the single channel model.The ... all seven multichannel and ... cone modules. Both pipettes ...
... in a wide variety of applications. • Whole ... can be freely rotated against the handle to ... an optimum angle towards the microtiter plate. • ... of most common pipette tips, and provides a ...
... value!, Comfortable feel and less hand ... Finer control while pipetting with smooth, light ... with long, lever tip ejector , Completely ... the need for recalibration , Easy-to-read precision ...
... Designed with 96-well plates in ... useful for molecular biology applications: PCR* ... 96-well plates, etc. Used with Diamond ... system, this product will maximize performance ...
Medicine Products: