Newsroom District One Hospital Auxiliary Makes Donation To Emergency DepartmentGovernment and private economists are warning of major financial turmoil and another recession if Congress can't get their act together to address the rising level of federal debt that is estimated to equal 70 percent of our total national output by the end of the year. Our nation's ability to pay the interest and its debt obligations has everything to do with our benefits..However, it remains uncertain whether lawmakers will be capable of negotiating the details of a long-term spending plan in just two weeks. Should they fail to do so, they will either need to pass a short-term continuing resolution to keep the government operating or allow the federal government to shut down..Under current law the Social Security COLA is calculated based on the spending patterns of younger working adults using the Consumer Price Index for Urban Wage Earners and Clerical Workers. But older consumers spend a bigger portion of their household budgets on healthcare and housing, two categories that have been increasing more rapidly in recent years. "Medicare Part B premiums are the fastest growing cost most retirees will ever have," notes Johnson. "But those costs are not even surveyed under the CPI-W or reflected in today's COLA," she says. … Continued
What States Have Done To Avoid Glitches With Mail In Voting Magazine2020The fact that there are actually two Social Security trust funds is important when you break down the numbers behind the trust funds' cash deficits. According to the Social Security Trustees' "intermediate" projections, the OASI trust fund would run a cash deficit of billion in 2010, and the DI trust fund a billion cash deficit..Cutting Benefits for Current Retirees or Any Americans Over Age 50: Many current retirees are already struggling financially, and people need adequate time to plan and prepare for changes to something as important as Social Security..In the months ahead, The Senior Citizens League will continue to advocate tirelessly for the bipartisan Seniors Have Eyes, Ears, and Teeth Act, and we hope to see it signed into law before the 115th Congress comes to a close at the end of this year. In the meantime, we encourage our supporters to contact their elected officials to request their support for H.R. 50For contact information, visit our website at. There, you can also share your story with The Senior Citizens League and tell us how you would benefit from the passage of the Seniors Have Eyes, Ears, and Teeth Act. … Continued