WASHINGTON -- Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise.
The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.
By law, Social Security benefits cannot go down. Nevertheless,
Gives new meaning to the phrase: "Where's my Bailout?"
Cheers
Part D (prescription coverage) premiums are projected to rise.
...Jim Thompson
Apparently, the authors cannot understand the difference between "will not rise" and "will shrink". Remember in the ... third grade, when they taught about less than, greater than or equal?
This fella probably missed that day.
-- Les Cargill
If you continue after the point you cut off:
"Nevertheless, monthly payments would drop for millions of people in the Medicare prescription drug program because the premiums, which often are deducted from Social Security payments, are scheduled to go up slightly. "
So SS payments will go down because deductions from the payment will increase while benefits will stay the same.
-- Muzaffer Kal
DSPIA INC. ASIC/FPGA Design Services
Ah, the joys of Socialism!
Cheers! Rich
But Social Security is not Medicare.
-- Les Cargill
checks
If you receive Social Security benefits, your Medicare _premiums_ are withheld from your SS payment.
...Jim Thompson
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