No COLA for 2 years?

Sanders to the rescue!

No Social Security cost of living adjustment in 2010 or 2011? That’s what the program’s trustees have projected.

No annual COLA – for the first time since 1975 – would mean that rising prices would eat away for two full years at the buying power of beneficiaries’ monthly checks. For millions, the dollar figure in their checks would actually shrink, because Medicare prescription drug payments – deducted from Social Security – are scheduled to increase next year.

Senator Bernie Sanders, Independent of Vermont, is having none of it. “I will be introducing emergency legislation that will provide seniors with financial support during the coming years,” Sanders said. “It would simply be unacceptable for seniors of fixed incomes not to receive additional income in the coming year.”

PSARA President Maureen Bo called on supporters for action.

“Please contact Senators Patty Murray and Maria Cantwell, urging them to support Senator Sanders’ bill,” Bo said. “In addition to the economic justice issues, increasing the income of seniors would be an excellent stimulus to the economy.”