Senior citizens cutting back on their necessities

#2
#2
Cost-of-living adjustments are automatically set by a measure adopted by Congress in the 1970s that orders raises based on the Consumer Price Index, which measures inflation. If inflation is negative, as in 2009 and 2010, payments remain unchanged.
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BTW, if a 2-3% cost of living adjustment is enough to swing you from the penthouse (Canadian Club) to the poor house (Jim Beam), you've got bigger problems.

I'm sorry, but 60-65 years is a mighty long time to be living and not have any more extra income or money put back besides your $1000 a month SSI check to live on.
 
#3
#3
Since I get a VA disability tied into this very thing I will say the argument should be more along the lines that Congress built in automatic raises regardless of what inflation, the economy, budgets, shortfalls, etc. are. They get their cost of living adjustments regardless. Make them build their pay scale into the same formula.
 
#4
#4
Correct me if I'm wrong, but isn't Canadian Club pretty cheap? I bet if you slipped him some Canadian Mist, he'd never know the difference.
 
#6
#6
Anybody my age (~30) shouldn't expect a dime of SS. Need to plan appropriately now.
 
#8
#8
CSpindizzy said:
Since I get a VA disability tied into this very thing I will say the argument should be more along the lines that Congress built in automatic raises regardless of what inflation, the economy, budgets, shortfalls, etc. are. They get their cost of living adjustments regardless. Make them build their pay scale into the same formula.
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Are you kidding! They will also be exempt from all of the nuiances of Obamacare.
 
#9
#9
From what I've read it would take absolute calamity for you to get no benefit at all. More likely is either a later retirement age (like 68) or slightly lower benefits.
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#10
#10
lawgator1 said:
From what I've read it would take absolute calamity for you to get no benefit at all. More likely is either a later retirement age (like 68) or slightly lower benefits.
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At this point I would be fine with getting tax benefits on what I have saved in lieu of SS benefits.
 
#12
#12
lawgator1 said:
From what I've read it would take absolute calamity for you to get no benefit at all. More likely is either a later retirement age (like 68) or slightly lower benefits.
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This is what I think is going to happen, However I expect my SS payment to possibly cover my cable bill in my retirement. So yeah, you'll get a little something.
 
#13
#13
old farts are still the richest people in this country. amazing to me the dems want to save social security since it's raping the poor to give money to the rich.
 
#14
#14
Old people, although slow and dangerous behind the wheel, can serve a purpose. - Lloyd Christmas
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#15
#15
droski said:
old farts are still the richest people in this country. amazing to me the dems want to save social security since it's raping the poor to give money to the rich.
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And those "old farts" paid into the system for decades. It's their money.....Sounds like an Obama idea...
 
#18
#18
there was never a fund. they called it a fund, but the fund never existed. this was well known. can't blame anyone but yourself if you relied on that to be there forever.
 
#19
#19
droski said:
there was never a fund. they called it a fund, but the fund never existed. this was well known. can't blame anyone but yourself if you relied on that to be there forever.
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If the fund never existed, what was Al Gore going to put in his famous " lock box" .
 
#20
#20
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#21
#21
overseasorange2 said:
And those "old farts" paid into the system for decades. It's their money.....Sounds like an Obama idea...
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I'd be cool with those old farts getting out of the system exactly what they put it. The way things stand now, they're getting out of the system what I'm putting in plus some.
 
#22
#22
the government should offer lump sum payments. use a formula something like "number of years paid into system" x 3.14159 x the average monthly payment amount for all current recipients.

it would probably be cheaper than the payment in perpetuity plan that is happening now

yeah, I know, it's probably a bad idea
 
#25
#25
droski said:
there was never a fund. they called it a fund, but the fund never existed. this was well known. can't blame anyone but yourself if you relied on that to be there forever.
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I never rely on anyone to take car of my retirement, except me.....especially Uncle Sam. By the way, if the government owes us nothing, then why the heck are we paying taxes for all these years. ....For the privilege of calling ourselves U.S. citizens:eek:lol::eek:lol:
 
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