Also putting pressure on the program, TSCL anticipates that more people will file claims for benefits. While employment was at record levels just a few months ago, many older adults postponed filing for benefits to allow their Social Security payouts and retirement accounts to grow. Now, faced with paid sick leave and unemployment benefits ending, older workers are unlikely to be able to afford to wait to file for benefits if they have lost their jobs. In addition, workers lucky enough to have 401(k)s and IRAs have experienced significant losses in the value of those retirement accounts and will be depending on Social Security all the more. Big changes in equity prices reduce the distributions from those accounts. .You can gather indoors with fully vaccinated people without wearing a mask. .For details, or to see if your Members of Congress will be holding town hall meetings during the summer recess, call their local offices. You can find contact information HERE. For a list of ten sample town hall questions, click HERE. .While retirees won't be getting as much of an increase in their Social Security checks in 2020, the Part B premium, is expected to go up considerably more than it did this year. In 2019, most beneficiaries paid .50 per month more than in 201In 2020, however, the Medicare Trustees have forecast that Part B premiums will increase from 5.50 to 4.30 per month — .80 per month more—an increase of 6.5%. That's four times faster than the COLA. .Recently we received the following from one of our readers: .Terry Newell currently teaches leadership, decision - making, and ethics courses for a variety of organizations. He is the former dean of the Federal Executive Institute in Charlottesville, Virginia, and was the director of the Horace Mann Learning Center, the training arm of the U.S. Department of Education. .This week, Congressman Walter Jones (NC-3) introduced the Honesty in Consumer Price Index (CPI) Reporting Act (H.R. 3500), a bill that aims to make Social Security COLAs more fair and accurate for beneficiaries. It would accomplish this by requiring the Bureau of Labor Statistics (BLS) to report the CPI using the methodology that was employed back in 1980, around the time when COLAs first became automatic. .In 1977, Social Security was close to bankruptcy. Legislation enacted in 1977 changed the way benefits were calculated, beginning with retirees who were born in 1917 and who first became eligible for benefits in 197The changes were major, and the transition between the old and new method of calculating benefits not only took place over a very short period of time, it did not work as anticipated. .Leading GOP plans impose broad spending reductions, would overhaul Medicare and cut Medicaid, while President Obama and Democrats are insisting tax increases are required, particularly on people with higher incomes over 0,000. Respondents to TSCL's Seniors Survey also tended to be more divided when asked whether they "strongly agreed" that the budget deficit should be reduced by cutting discretionary spending, or by closing tax loop holes and small revenue increases. However, when those in the middle, who "agree somewhat," are counted, a majority, 74%, agree that the budget deficit should be reduced by a fair balance of both discretionary spending cuts and modest revenue increases.