So, which one should you take?.Wednesday's report also revealed a new projection for next year's Social Security cost-of-living adjustment. According to the Consumer Price Index for Urban Wage Earners, consumer prices have been lower this year than they were last year, which means there will likely be no COLA come January. Automatic COLAs were adopted forty years ago and so far, beneficiaries have gone without annual increases only twice in 2010 and 2011..My Social Security benefits are reduced because I receive a government pension. I started benefits at age 70. My wife worked in a private sector job and started Social Security at 6If I pass on would her Social Security survivors benefit based on my account be reduced because of my government pension? She is not eligible for benefits from my pension. My current benefit is ,320.00 versus about ,842.00 without the penalty..TSCL will be letting Congressional leaders know of our opposition to a payroll tax cut and we will continue to advocate both in opposition to any payroll tax cut, and also for a fairer and more accurate way of calculating what the COLA should be each year..lucky enough to be in the middle of the fall Part D Open Enrollment period,.Under growing pressure to reduce the federal deficit, the prospect of major Social Security and Medicare cuts is the greatest it's been in almost three decades. The recent debt limit deal calls for a bipartisan committee that has until Thanksgiving to come up with a plan to cut the deficit by .2 trillion. TSCL believes that the committee would very likely include a change to a more slowly growing consumer price index that would cut annual-cost-of-living adjustments. There are also proposals that would require seniors to pay a bigger portion of their Medicare costs..A common debate is re-emerging this year over Social Security's "deficit, " as the federal borrowing limit looms. The debt limit, which was suspended since late 2015, was re-instated on March 16th. That debt limit sets the money the Treasury can borrow to pay for federal obligations, including money owed to the Social Security Trust Fund..But no matter how legislation would be structured, Canadian health experts are warning that the plan could accelerate drug shortages in Canada. Attempting to fill the U.S. consumers' needs with pharmaceuticals from our smaller northern neighbor could not only drain supplies in Canada, but also drive up prices in that government-run health system, opponents say..On Wednesday, the Social Security and Medicare Trustees released their annual reports on the financial outlook of both programs. As expected, they found that Social Security and Medicare are experiencing long-term financing shortfalls. Social Security's combined trust funds are expected to be depleted in 2034, which remains unchanged from last year's report. Medicare's Hospital Insurance trust fund is expected to be depleted in 2028 two years earlier than the trustees projected last year.
