A change to Social Security benefits would help millions of Americans – many of whom are not currently getting enough to live. While Social Security is supposed to help people in their retirement years, the benefits seniors receive are too low. When we take a close look at the last several years, it’s clear that the problem lies in Social Security’s failure to keep up with costs. This is especially true for the members of the greatest generation.
Why COLA isn’t Enough
Every year, Social Security unveils a Cost of Living Adjustment (or COLA.) While this sounds good, it fails to address actual costs for seniors. The adjustment is based on projected rates of inflation. The increase, however, does not keep up with actual rising costs. Just the yearly increase in the price of medication typically far outweighs the change offered by the COLA increase. For years, Social Security recipients have received “cost of living” increases that do not cover the actual cost of living. This is why it is time for a real change.
The Social Security Change Seniors Need
Our nationwide survey shows that 92 percent of respondents support a Social Security increase for retirees over age 82. Only 5 percent said that the COLA increase was enough. Clearly, the American people see that change is needed. The best option we have is the bill we call The Greatest Generation Benefits Act. This bill would provide a substantial increase. If it passes, seniors over 82 will receive an additional $85 per month plus a 4% increase every year after.
This change will finally give seniors the benefits they have earned. Passing this legislation means that benefits would be enough to meet rising costs and members of the greatest generation would get the benefits they deserve after giving so much. We urge Congress to do better for those who lived through WWII and Korea by making this change a reality. We ask that you help by signing our petition. Also, remember to follow us on Facebook and Twitter for the latest updates on this and other stories that are important to our wonderful older Americans.