News

"The Senior Citizens League strongly opposes this effort to overturn Americans' access to health care," Johnson asserts..The report stated that the four changes together would eliminate 113% of Social Security's projected long-term financing gap. The majority of participants, who included all income levels, and political party affiliations, preferred the package of changes. "This survey reflects similar findings to surveys conducted by TSCL," says TSCL's Executive Director Shannon Benton. We hope that this survey can serve as an outline for a plan to strengthen Social Security without having to rely on benefit cuts," she states. "We encourage our readers to share the findings of this study with your Members of Congress," Benton adds..On Wednesday, Congressman Jimmy Duncan introduced the CPI for Seniors Act, and TSCL announced its support for it shortly thereafter. The bill, if signed into law, would mandate the formulation and publication of a new Consumer Price Index specifically for seniors with the purpose of establishing a more fair and accurate cost-of-living adjustment..Members of the committee heard from several witnesses at Wednesday's hearing, including Stephen and Rita Shiman, two older Americans from Saco, Maine who were recently victims of the common grandparent scam against seniors. The couple was contacted via phone by a scammer who claimed to be their grandson. The caller told Mr. and Mrs. Shiman he was being held unfairly in a county jail and needed ,230 to be released on bail. They completed the transaction without a second thought and learned they had been scammed later that day, when they called to check in on their actual grandson..Here are some things to consider:.Due to a loop hole in Social Security law, the pending controversial Totalization Agreement, signed in June 2004, would allow millions of Mexican workers, and dependents on their accounts, to become entitled to Social Security benefits that include credit for earnings received while working illegally. If allowed to take effect, TSCL believes hundreds of billions in Social Security benefits are at stake..Nonetheless, TSCL will not let the Senate forget that the need to pass legislation to help bring down the prices of prescription drugs must not be set aside because of the coronavirus threat. Many, many seniors are at risk because they can't afford the drugs they need, and the situation must be dealt with now..I was born during the Notch period. I would like to know how long Notch Babies have been underpaid. In addition could you tell me if the underpayment has been corrected and if we are receiving the right amount now? - M.R. Fort Cobb, OK.The Social Security Trust Fund is the single largest holder of U.S. debt. In the past, when more payroll taxes were received than required to pay benefits, the surplus was by law, used for other purposes. The federal government accounted for borrowing the funds by issuing I.O.Us from the U.S. Treasury to Social Security or Medicare Trust Funds. In recent years, the program's financing reversed and now both Social Security and Medicare Trust Funds are paying out more in benefits than money coming in. Both now rely on drawing down the interest and then the I.O.Us. But when the rest of the federal budget is in deficit, the government must borrow to pay Social Security and Medicare benefits. And according to a growing number of economists, those borrowing days are numbered.