Seniors await some help
by kristina leskova
COLA is not only a famous drink but it is an abbreviation. It is cost of living adjustment and it is connected with Social security. The Social security recipients can not await increase of money that they get. But president Barrack Obama plans to help this group of people. His plan is to send about 250 dollars to these people even before congressional elections. Democrats have signed this plan even though it could increase the federal budget deficit. Republicans said that they also want to help these people but they do not want to increase the deficit. There are more than fifty million Social security recipients and they will see no increase during the next year. And thi! s will be the first year without increase since 1975. Why is it so? Because the consumer prices are falling down. The cost of living adjustments depend on inflation and this is negative this year because of lower energy costs. But the rule is that the Social security payments will not decrease even though the prices will. Many seniors agreed with the Obama’s plan. Among these seniors we can count senior citizens, veterans, retired railroad workers and people with disabilities. Without the help millions of American people could not afford health care and some prescription drugs. The health care costs are still increasing and we know that older people need medical care. The average monthly payment is 1 094 dollars for every recipient. The economy has changed and every area need some help. The gasoline prices decreased by 29,7 percent, energy costs decreased 21,6 percent and consumer prices decreased too – 2,1 percent.
related story (sgx15637): http://news.yahoo.com/s/ap/20091015/ap_on_bi_ge/us_social_se...
| by kristina leskova for PocketNews (http://pocketnews.tv) |
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posted by Blog TechSource @ 1:38 PM
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