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edhopper

(37,220 posts)

7. I'll explain uit to you

Reply to jehop61 (Original post)

Tue Dec 18, 2012, 09:44 AM

Dec 2012

over the long term, as increases get smaller and smaller, those starting Social Security a decade or two down the road will be getting a smaller income than they will need to support themselves. SS will not keep pace with inflation. So needs like food, shelter and medical will not be met.
And since incomes have been stagnant for years, saving more for retirement is harder and harder. Many will only have SS.
It's not about you.

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Highlight:

Regarding the new COLA cuts in Social Security proposed by Obama [View all] jehop61 Dec 2012 OP

Explain to me how Social Security contributes to the deficit KeepItReal Dec 2012 #1

Yeah, that's the ticket. I'm with you, I received a whole $17 more a month so of course COLA should monmouth3 Dec 2012 #2

Glad you got yours. Cobalt Violet Dec 2012 #3

How nice for you. As for me, being 20 years away from it... JHB Dec 2012 #4

Chained CPI.... 33Greeper Dec 2012 #5

Best explanation I've seen yet n/t eridani Dec 2012 #6

I'll explain uit to you edhopper Dec 2012 #7