Randy

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Par For The Course

Business > No Cola for Seniors
 

No Cola for Seniors

I see that those of us on Social Security will not be getting a cost of living adjustment this coming fiscal year. Our economy has seen deflation for a change. (That may change quickly as I noticed gasoline prices skyrocketed 28 cents/gal overnight around here!)

Now President Obama, always mindful of "senior power", suggests Congress approve a $250 increase for SS recipients. That'll carry a price tag of over $13 billion. Usually, I go along with the President, but his time, I'm not in favor of his recommendation.

For one thing, it's too costly. And in my mind, it's not necessary. Most seniors don't need the extra money. Less than 10% of them (us) fall within the established poverty rates for Americans (as opposed to 12% between 18 and 64).

True, we are retired, living, supposedly, on a fixed income, but we aren't impoverished. At our age, we should have fewer debts. We don't need "things" anymore. Our house should be paid for by now. No children to support. No "lifestyle" to live by. We're on permanent vacation.

And finally, we should have money saved for retirement. That should be the fundamental goal of every working citizen. I never made much money being a school teacher and raising four children, but I did have sense enough to invest in the stock market and reap the benefits of a growing economy (over the long haul).

I don't want, nor deserve, another $250 just because I'm a senior citizen. Let's put it to better use.

posted on Oct 22, 2009 5:21 AM ()

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