The White House says it is dropping a proposal that would have lowered the cost-of-living adjustments for Social Security and other government social programs, according to published reports.
Social Security benefits will increase by just 1.5 percent next year - about $19 a month for the average retiree.
One fiscal crisis is winding down, but another round of budget negotiations looms. And that could mean Social Security and Medicare cuts will again be part of the conversation.
The August recess gives Capitol Hill lawmakers a chance to hear from their constituents back home, and sometimes that earful is downright heartbreaking.
Poverty levels are much higher for older Americans when you factor in how much they need to spend on health care, the Census Bureau has found.
It's not only politicians who have mixed reactions to a different way of calculating cost-of-living adjustments to Social Security benefits. Newspaper editorial writers and columnists are conflicted, too.
When President Obama's budget arrives on Capitol Hill on April 10, lawmakers in the opposition party - in keeping with a time-honored Washington custom - are certain to immediately brand it "Dead on Arrival." This year, however, Obama's fellow Democrats may not be far behind.
The chained CPI - a proposal to change the way the cost-of-living adjustment (COLA) is calculated for Social Security and veterans benefits - can be as confusing as its name. And with it comes a number of daunting statistics:
Wondering about President Obama's position on slowing growth in Social Security benefits? It was made very clear during today's White House press briefing.
This video might leave you with the impression that nobody wants a proposed change for calculating cost-of-living adjustments (COLA). Not older Americans. Not veterans. Not women. Not labor. And certainly not independent U.S. Sen. Bernie Sanders of Vermont.
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