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Highlighting the Inadequacy of Social Security’s COLA - 247wallst.com
Much has been written about Social Security’s annual cost-of-living adjustment (COLA) process and its inability to keep pace with the cost patterns seniors face. The Senior Citizens League, for example, reports on its website that “Social Security benefits have lost over thirty percent of their purchasing power since 2000 due in large part to inadequate COLAs and rising health care costs.” This is no surprise to many seniors experiencing the steady rise of costs, and a post yesterday on 247wallst.com by reporter William Temple puts a fine point on the difference between consumer price indexes and the rising costs of healthcare. Check out his post here…
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