Retiree Anger Over Zero 2010 COLA And Future Social Security Reform

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By MyFederalRetirement
Posted: 10-20-2009



In the next two years, it is predicted that the Social Security system will pay more out in benefits than it collects in taxes.

This is the first time this has happened since the 1980s, and is reportedly due to the strain of recent job losses and early retirements on the system.

With the additional announcement last month that there will be no cost-of-living (COLA) increase to Social Security recipients in 2010, the concern and anger among seniors is mounting.

Mark Miller, a nationally-recognized expert on trends in retirement and aging, believes "Washington will turn to Social Security reform sometime after health care wraps up. The debate has the potential to become Round Two of the nasty public displays we saw at last summer's health care town hall meetings."

Miller describes, in his column last week, how the Social Security COLA anger might be a preview of things to come (read the column here on RetirementRevised.com).

Posted with Permission from: MyFederalRetirement.com