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View Diary: Social Security Chief Actuary: Super Congress cuts would hurt current beneficiaries (44 comments)

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  •  OWS will look like child's play if they (3+ / 0-)

    cut benefits to current or soon-to-be retirees.

    "Say little; do much." (Pirkei Avot: 1:15)

    by hester on Fri Oct 21, 2011 at 07:03:50 PM PDT

    •  COLA probably in play (0+ / 0-)

      My guess is that I and my friends would not go to the barricades for a COLA of 3.2% or even 2.8% instead of 3.6% this year. If I were looking for a way to trim SS a small amount, to show good faith in negotiations or whatever, this is where it's likely to occur -- especially if there's protection for people whose Medicare premium increase would more than wipe out the COLA and actually decrease the check.

      •  Smarter people than me ran the numbers (1+ / 0-)
        Recommended by:

        on the 3.6% COLA and offsetting Med B and D premium increases yesterday and it turns out that nobody is an actual loser and in fact under current law can never see the dollar value of their check decrease.

        That said the average $38 per month increase will be reduced by a flat $10 bucks and change across the board meaning that the lowest income beneficiaries might well see half or more of their bump eaten away.

        But under current law everybody is guaranteed a least a penny per month boost. I'd tell gramma not to spend it in o e place but we don't have ha-pennies and farthings these days. That is while 3.6% is better than nothing no senior reliant on Social Security will be rushing out to put a down payment on a new boat as a result. More like being able to mix some wet food in with their kibble. Hopefully for the Cat Lady's cat and not the Cat Lady herself.

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