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Poll after poll has shown the American public supports expanding Social Security. It,s time Congress listens to the American people who want to expand Social Security, not the Wall Street millionaires who want to cut it. .The Three Biggest Expenses to Cut In Retirement — Most seniors spend more time clipping coupons to save a few dollars when they do their weekly grocery shopping than they ever spend cutting these three biggies. Spend more time on these and you'll have more money for groceries and everything else. .Is The Government Manipulating COLAs? … Continued
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Legislative Update Week Ending February 3 2017
Social Security policy analyst and Advisor editor Mary Johnson finds the average monthly rate of increase for the past 12 months. This rate of inflation is added to the current month, and each subsequent month through to September, in order to project inflation in those months. The SSA's COLA formula takes the third quarter data (July/August/September) and finds the average for the quarter. That is then compared that with the third quarter average from one year ago, and the percentage of difference is determined. That percentage of difference is the amount that the COLA would increase. .This week, lawmakers involved in talks to permanently repeal and replace the SGR revealed that a temporary pay-patch will likely be necessary. Those serving on three committees – the House Ways and Means Committee, the Energy and Commerce Committee, and the Senate Finance Committee – have successfully negotiated a legislative compromise, but they've been struggling for weeks to come up with offsets that will cover the cost of the 8.4 billion bill. .Recently one of our readers asked "Is there a percentage as to how much less NOTCH BABIES receive monthly?" Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%. … Continued
To learn more and participate in surveys visit . .In addition, when lawmakers return to Capitol Hill on Monday to begin the lame-duck session, TSCL will keep a close eye on the evolving budget negotiations. Lawmakers have until December 9th to negotiate legislation to keep the federal government operating. Should they fail to miss the looming deadline, the federal government will shut down like it did back in 2013, and Social Security and Medicare beneficiaries could see negative impacts. For progress updates from Capitol Hill, visit the Legislative News section of our website, or follow TSCL on Twitter. .It's not what the government tracks that causes your Social Security cost-of-living adjustments (COLAs) to grow so slowly. It's what the government isn't tracking that's keeping your COLAs so low. It may surprise you, as it did us at TSCL, to recently learn that COLAs are calculated using methodology that doesn't directly measure what you pay out-of-pocket for health insurance premiums. Add to that the fact that the consumer price index (CPI) the government uses to calculate COLAs (CPI-W) represents the spending habits of younger urban wage earners and clerical workers — or the spending habits of only 29% of the U.S. population. That's certainly not going to reflect the inflation experienced by most Social Security recipients. .On Tuesday – despite projections that showed large gains for Democrats on Capitol Hill – lawmakers on the right swept elections across the country. For the first time in eight years, Republicans will control the House, the Senate, and the White House when the 115th Congress begins in January. Senator Roy Blunt (MO), who narrowly held on to his Senate seat on Tuesday, told reporters: "A Republican president and a Republican Senate and a Republican House can do things to change this country." .This has led National Cancer Institute (NCI) Director Ned Sharpless to worry that the trend of patients and physicians postponing essential cancer care will swap the ongoing pandemic for another public health crisis in the form of increased cancer cases and deaths. An NCI analysis estimated, for instance, that pandemic-related delays in breast and colon cancer diagnoses and treatment could lead to 10,000 more deaths over the next decade. "We're very worried about the consequences of … delaying therapy on our patients," Sharpless said. .However, there is and has been an alternative. A bipartisan Senate bill backed by Trump stopped short of giving Medicare bargaining power but would have limited annual price increases and capped costs for older people. The bill passed out of a Senate committee but was never brought to the full body, again because Majority Leader McConnell has refused to do so. .Chen cited two international flights from earlier stages of the pandemic where infection rates varied depending on mask use. On the first flight, no passengers were wearing masks, and a single passenger infected 14 people as the plane traveled from London to Hanoi, Vietnam. On the second flight, from Singapore to Hangzhou in China, all passengers were wearing face masks. Although 15 passengers were Wuhan residents with either suspected or confirmed cases of COVID-19, the only man infected en route had loosened his mask mid-flight and had been sitting close to four Wuhan residents who later tested positive for the virus. .I worked in a California city police department for 30 years and I'm now entitled to a pension. For the past 8 years, I've also paid into Social Security for. Q & 038; April/May 2020 How Much May I Earn in the Year I Turn Full Retirement Age? .Sources: Earnings Suspense File Data For 2008 and 2009, Social Security Administration, March 2, 201"The Growing Cost Of Illegal Immigration To Social Security," Mary Johnson, TSCL, June 2010.