Social Security and COLA |

Social Security and COLA

For the second year in a row, the Social Security Administration has announced that there will not be a Cost of Living Adjustment (COLA) for social security recipients. The COLA is based on the Consumer Price Index (CPI) which has been stagnant due to our lack luster economy. The COLA is a rational method of increasing entitlements when inflation raises its ugly head. It is not perfect, but what is?

Some Democrats are proposing to gift each Social Security recipient $250, which would increase the national debt by $14.5 billion. How coincidental that this should be proposed just prior to the November elections.

Our national debt is $13 trillion and rising. There are 58.7 million on Social Security. Based on our populations of over 308 million, the senior population on social security is about 19 percent. The national debt is equivalent to $42,200 per capita.

Is it not time to make some tough decisions and hold the line on spending? Medicare, defense, bank bailouts, welfare and many other entitlements need to remain in check and even be decreased. One dollar of every six tax dollars goes to paying the interest on the national debt. Wouldn’t it be sweet if 16 percent of our tax dollars could be allocated to education, medical research, and many other deserving areas rather than spent on interest payments?

If everyone were to pay $1 a day or $365 a year toward paying off the national debt, it would take 115 years to do so. I’ll never see the national debt eliminated nor will my children or their children because our society cannot live within its’ means. I’ll be lucky to see the national debt decrease.

Ed Wydra

Penn Valley

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