New Bills Aim to Boost Social Security Checks

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Consider this. We seniors live on Social Security and income from low risk investments. For the past two years, income from investments has decreased to less that 1%. While this helps keep the interest rates for housing and consumer expansion at a very low rate, it has caused many seniors to use their savings, just to keep pace with the cost of living. Consider that the largest portions of their income is used for expense for medical care and medications. Walmart, Kroger and Kmart have helped with their $4 medications, but many other medications are still very expensive. Maybe the federal reserve should take a look at the true rate of COLA formula.

Bob of KY 9:39AM September 18, 2009

Money expended in SS COLA's is money well expend, especially for the seniors. The money they get is put right back into the economy, as they can not afford to save it. Also, my grandma used to tell me "charity start at home" meaning, stop those wars and foreign help and use that money here first.

Rocky of GA 8:48AM September 18, 2009

No COLA for Social Security! Will there be multi-billions next year given freely to third world and eastern European countries? If yes is the answer, this, more than anything else, shows our government's misguided priorities.

cid of NY 7:57AM September 18, 2009

I am all for seniors getting enough to live on and pay thier drug cost, yes they should get thier increase. What I am against is seniors who come to this country, never worked a day in the U.S. but they get more than our seniors who worked all their life paid their taxes but do not have enough to eat. you tell me what is wrong with the U.S. system and our seniors not having enough to live on .....Sheeesh. Many seniors only get like 7 or eight hundred a month. can you live on that ?

tiki of CA 4:26AM September 18, 2009

When I read the question asking if seniors need “extra SS payment next year” I was incensed, by what to me by such an insulting question and suggestion that seniors are paid too much to begin with. Many people live from paycheck to paycheck for all of the 40 to 50 years of their working lives and are unable to put money aside for retirement. SS is all they have, and at that time in life when they most need medical care, and prescription medications which is bad enough in itself, let alone the fact the prescription medications are ‘the’ product that enjoys the largest mark-up of all other products sold in this country.
This huge cost of living increase received last year was based almost solely on the price of oil. $150 or thereabouts last year but now down to around $75. Many of the ramifications of the higher price of oil, however, are still with us. What a joy it would be to see the economic genius’s that come up with this sage advice, and the congress that relies on it, to live on social security, even at the maximum level, which I think is $2000 a month.

Dan of ME 1:17AM September 18, 2009

Most seniors live on a fixed income, so when drug prices and premiums for Medicare supplemental insurance policies rise every year -- as they always do -- they depend on at least a nominal increase in their Social Security check to help offset these increases. For many, this is critical!

John of CA 6:30PM September 17, 2009