Inflation is continuing, and so is the Senior Citizens League’s effort to convince Congress to give Social Security recipients a fourth stimulus check.
As prices for goods and services continue to rise across the nation, those on a fixed income are losing their power to purchase everyday necessities.
The entire market saw an increase of 6.2% from Oct. 2020 to Oct. 2021, with food rising 5.3% and energy over 30%.
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After the inflation appeared to continue at a rapid pace, along with the COLA increase of just 5.9%, the Senior Citizens League began its campaign.
In a letter to Congress, the chairman of the League Rick Delaney, called for one check worth $1,400. The check would help offset some of the struggles that seniors are facing.
He claimed many seniors have admitted to exhausting their retirement savings. Some started to cut their pills in half, and eat one meal a day because it’s all they can afford.
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The COLA increase is the highest in recent years, with the last one this high being almost 40 years ago.
Though it’s one of the highest, it’s less than the rate of inflation and Medicare costs will go up next year, cutting into the increase.
The petition has reached over one million signatures. Politicians in Congress have not stated whether they support the idea, and are mainly focusing on the infrastructure bill.
The League is hopeful it can be a topic of discussion next year.
Social Security COLA increase: Seniors say stimulus needed as grocery store, home heating costs skyrocket
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