Seniors Need a $250 COLA in 2010
The National Committee To Preserve Social Security and Medicare delivered 120,000 petitions to Congress saying “Seniors Need A COLA”.
Senator Bernie Sanders: On October 15th, it is expected that social security administration will announce for the first time in 35 years that seniors will not receive a COLA. Based on the formula, that by law they are obliged to use, they came to the conclusion that there is no inflation this year for seniors, and in fact their understanding is that prices for seniors have declined.
In my view, that is a wrong formulation. And I believe that it simply does not accurately reflect the purchasing habits of seniors. Seniors right now – I know this will come as a great shock – are not rushing out to discount stores to buy laptops, computers or iPods. What seniors now are purchasing, what they need, is health care prescription drugs. And the evidence is overwhelming that seniors spend a disproportionate percentage of their limited incomes on health care and prescription drug needs. And those costs, sadly, are not declining. They are, in fact, going up.
Rep. Peter DeFazio: As Senator Sanders noted earlier, a much more accurate measurement of the poverty level for seniors would show that it’s twice what we measure it at. We don’t have a good measure of what the inflation rate is for seniors. But we do know that pharmaceutical costs continue to escalate, medical care costs continue to escalate. Their rents or mortgages haven’t gone down. Their utilities have likely gone up. You know, nothing else that they have to consume has gone down in price over the last year. So, this modest $250 one-time payment to seniors would be basically equivalent to a 2% cost of living adjustment. It would help them meet some of those bare necessity costs.
Barbara B. Kennelly: And I am here today to deliver a 120,000 petitions saying “Hey, guess what? We need a COLA! Guess what, we’ve got some problems! We are the seniors of the United States. We are the seniors that built this county to be the country it is.” And I’m so delighted that these gentlemen are right behind that.
Let me give you the facts – 43% increase in Part A since 2000, 50% increase in Part B since 2000. Part D – now listen to this – Part D has a 130% increase. Those are prescription drugs.
Senator Sheldon Whitehouse: In Rhode Island, our seniors have a bigger proportion of their income come from social security than almost any other state. And we have seen, with real impact, what the other speakers have described. Which is – seniors seeing electric utility rates go up, seniors seeing pharmaceutical costs go up, seniors seeing all the real costs of their living go up. And with no real help in sight.
Senator Bob Casey: The least that we should do in the midst of the terrible recession, for older citizens and for families all across the country, is to make sure that we can provide some measure of relief that this legislation provides. That’s why we support it, no matter when it would come up, but especially in the midst of this economic darkness that so many families, so many older citizens have had to endure.
Rep. Maurice Hinchey: A failure to provide a Social Security COLA in 2010 for seniors would be a very critical mistake and have a very negative impact on them. And also, given the economic circumstances our country has faced over the course of this past year – actually, over the course of past two years – this economic downturn has pushed a decline in the standard of living of many seniors. Many have seen their home values drop, their pension funds severely decline, and their savings, in many instances, undermined and disappearing.
Estelle Lenet: My name is Esther Lenette and I am a resident of Montgomery county, Maryland. I’m 91 years old, and blessed to still be living independently. My only source of income is Social Security and I want to say that without Social Security, I don’t know where I’d be today. I really don’t. Getting a COLA next year doesn’t mean I’m going to be able to live extravagantly, but it means that I can keep up with my financial responsibilities and pay for the basics, especially the medical care that helps me stay independent. My thanks to the members of Congress for working to pass a COLA for seniors. Thank you!
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if i work part time and draw social securty will i get the 250.00?
I NEED A 250.00 CHECK IN ORDER TO HELP ME PAY FOR MY HOUSE I AM 3 PAYMENTS BEHIND ON MY ACCOUNT AND ARE WORK IN REPOSESESSING IT