The proposed change to the cost-of-living-adjustment (COLA) for Social Security and veterans’ benefits would result in a combined $129 billion in cuts over the next ten years. This would hurt many seniors and veterans who are already living on tight budgets. AARP has a free calculator that you can use to find out how much your benefits would be reduced over that ten year period of time. If you’re concerned, send a message to your elected representatives and the White House. Click here for contact information.
(Graphic from the National Committee to Preserve Social Security and Medicare.)
The history of the social security cola increase is at http://socialsecuritycolaincrease.com/ – I didn’t know there were years with a 0% increase