Why Seniors Need a Social Security Benefits Increase
Many older Americans are struggling because Social Security does not provide enough to live on. While the cost of living keeps going up, the Cost of Living Adjustment (COLA) barely moves. A significant Social Security benefits increase is the only way to fix the problem for so many seniors.
Why COLA Isn’t Enough
The annual Cost of Living adjustment is intended to address the issue of inflation when it comes to the benefits Social Security recipients receive. The problem, however, is that these increases do not really come even with increased costs. While everything from gas to food prices continue to go up, COLA increases are minimal. Consider that the COLA for 2021 was only 1.3 percent, and rarely over the last several years has it gone above 2 percent. At the same time, costs of medication and healthcare climb far higher.
How a Social Security Benefits Increase Could Change Everything
Social Security should help people to live comfortably in retirement. However, those who do not have additional retirement or savings, struggle to survive on Social Security Benefits alone. Many retirees expect a lot more from the system they paid into than what they actually receive. A Social Security increase would provide seniors with a living wage and a sufficient income in retirement. This is a change that older American desperately need.
What is The Greatest Generation Benefits Act?
The bill we call The Greatest Generation Benefits Act would completely change Social Security Benefits for Americans over age 82. Under this legislation, these great older Americans, members of the greatest generation, would receive an additional $85 per month plus a 4 percent increase every year after. This would provide the boost our seniors really need. The only thing is, It still has to pass through Congress. You can help make this a reality by signing our petition and sharing with your friends on Facebook and Twitter.