Millions of seniors need a Social Security benefits increase. While so many rely on Social Security, the amount they receive is simply not enough. Furthermore, as inflation and prices continues to climb, it will become more challenging to keep up with costs in the future. Retired Americans cannot afford to wait.
How Inflation Hurts Seniors
Inflation is a part of our economic world that we cannot get away from. Over time, prices go up on everything we use. For this reason, wages increase over time as well. These cost of living increases are essential to survival. For many seniors, however, benefits are far from enough to cover the actual cost of living in retirement. While many working individuals may receive significant cost of living adjustments, the annual Social Security COLA does not keep up with inflation and rising prices.
The Impact of Rising Medical Costs
Senior citizens tend to have much higher medical costs than younger people. The high costs of medication can be extremely challenging. Even life-saving medication can be a financial hardship for those in need. Many older Americans simply cannot afford the care they need. Drug prices have gone up over the decades, and these costs alone have often exceed the increased benefits afforded by COLA.
How a Social Security Benefits Increase Can Help
More and more people have started taking note of the problems with Social Security. Both citizens and members of the U.S government are starting to realize that something has to change. While nearly everyone agrees that there is a problem, the issue is how exactly to fix it. We believe, as do our allies in Washington, that legislation we call The Greatest Generation Benefits Act will offer the most help to the ones most in need. This bill would give seniors over age 82 an additional $85 a month plus an additional 4 percent each year going forward. This would be well over any COLA increase of the last several years.
This important change to Social Security is what members of the greatest generation need, and it is what they have earned. If you agree with this worthy cause, please sign our petition to let Congress know that you think these great Americans who lived during the era of during WWII and Korea should get the benefits they earned. For the latest updates on this and other issues important to older Americans, follow The Greatest Generation on Facebook and Twitter.