"Raising the retirement age would inflict further hardship among a group of workers who are likely to face health and economic problems in their 60s." –Doug Hart, President, Arizona Alliance for Retired Americans
The federal government announced today that tens of millions of Social Security recipients will go through another year in 2011 without an increase in their monthly benefits, marking only the second year without an increase since automatic adjustments for inflation were adopted. The first year was 2010. The cost-of-living adjustments, or COLAs, are set each year by an inflation measure that was adopted by Congress back in 1975. Sen. Bernie Sanders (I-VT) announced that when Congress returns in November, he will press for passage of $250 in emergency relief for Social Security recipients and disabled veterans to compensate for the lack of a COLA. That same proposal was defeated in the Senate on March 3, when only one Republican voted to allow the amendment to be considered. Sanders said the estimated $13 billion cost of the help for seniors is only a fraction of the $70 billion in annual tax breaks that Senate Republicans are pushing for the wealthiest Americans.