The Social Security Administration just announced Social Security's COLA or cost-of-living adjustment for 2017, and it is tiny. Retirees will likely see just a $4.00 increase (.03 percent) in their checks beginning in January.
Social Security is perhaps the most treasured federal government benefit, valued by Democratic and Republican voters alike. But, Republicans in Congress are out of touch with their constituents, both their desires and their needs.
Current and future Democratic lawmakers now have an opportunity to do the right thing by joining the growing Boost Social Security movement and supporting legislation which would improve benefits while also strengthening the program's long-term outlook.
Michael McAuliff covers Congress and politics for The Huffington Post. Talk to him on Facebook. Chained CPI requires the
Beyond being highly controversial, as well as being bad policy, chained CPI was also akin to a unicorn let loose in the arena of the bipartisan deficit reduction "grand bargain" game. But the GOP could not do the work needed to catch it. And now it's dead.
One of the biggest campaigns of 2014 is the struggle to raise our country's shamefully low minimum wage. This is a fight
Most media coverage of the president's decision not to include the "chained CPI" for cost-of-living adjustments in Social Security and other retirement programs in his 2015 budget has left out a key point to understanding the announcement.
If the chained CPI was merely a one-time fakeout which had already been discarded, why were the president's aides so evasive on the topic in recent weeks? This has all the hallmarks of a last-minute decision, driven by escalating political heat from the left.
The White House has confirmed that President Obama won't include the "chained CPI" (a formula for reducing cost-of-living adjustments in Social Security benefits) in his 2015 budget. It's clear that it was a political calculus that prompted this step today -- but we have to be vigilant and prepared for a renewed battle over the chained CPI in the near future.
We have truly reached a tipping point. Recurrently Americans have joined together in a populist movement to advance the interests of "the people" against "the elite." Today, after many years of struggle, that new populist movement is rising to defend and expand Social Security. And the politicians had better lead or get out of the way.
The Congressional Budget Office reported Thursday that, by 2024, health care spending will surpass Social Security as a government
Unlike recent budgets, this one will not include the recommendation to switch to the chained CPI. Past budgets included savings generated by this change, which would lead to slower rising benefits in programs indexed to prices, most notably Social Security.
Since Social Security benefits are modest, and since most beneficiaries have little other income, no one should propose a cut in benefits casually. We've said time and again that the chained CPI is worth considering only if two crucial conditions are met.
Will he or won't he reprise the "chained CPI" cut to Social Security that he proposed in last year's budget? Nobody on his team is talking. The answer to that question could determine the financial fate of millions of Americans -- and the political fate of the president's party.
What a difference a year makes. Last year at this time, a president and a party who had just won an election with progressive rhetoric were quickly pivoting toward a "Grand Bargain" which would cut Social Security and Medicare. Today the forces of corporate consensus are on the defensive.
Imagine that an employer wishes he hadn't paid you so much in the past, so he goes into your bank account and takes what he wants. Sound outrageous? That's essentially what the federal government may be about to do to its workers. And the rest of us may be next.
A pair of House Republicans have a new bill that would spare the military from sequestration by cutting the Social Security benefits of many Americans who already experience painful federal budget cuts.
Many senior citizens are already finding services and benefits reduced under sequestration, which has cut programs like Meals