St. Petersburg, Tallahassee, Miramar, Florida
United States
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Millions on Social Security to Receive No
Increase for First Time Since 1975
TALLAHASSEE, FL – AARP Florida State
Director Lori Parham offered the following statement in reaction
to the Social Security Administration’s announcement this
morning that 41 million older Americans, including 3.5 million
older Floridians, will not receive a Social Security cost of
living adjustment (COLA) in 2010. Since automatic Social Security
adjustments went into effect in 1975, there has never been a year
without a COLA.
“Health-care costs and drug costs are rising and many
older Floridians are still reeling from losses due to recent
market turmoil. While expected,
today’s news is a blow for millions of older
Floridians. For decades, older
Floridians have counted on these annual increases to help make
ends meet.”
“AARP applauds the President’s call Oct. 14 for a
$250 payment to Social Security beneficiaries, as well as efforts
by elected leaders of both parties to provide similar relief. As AARP Chief Operating Officer Tom
Nelson noted today, older Americans are paying heavily out of
pocket for medical care, have experienced a real decline in their
retirement accounts and in housing values, face longer periods of
unemployment for those who need to work, and are seeing low
returns on interest-bearing accounts.
“Already, some older Americans are having to
choose between daily expenses for food and housing or being able
to afford the costly prescription drugs they need to remain
healthy. One in five Floridians
age 65+ relies on Social Security alone for their income.”
“On behalf of AARP members across
Florida
, we join AARP leaders across
the nation in calling on Congress to act quickly and pass
legislation to provide needed a $250 payment to older Americans
whose benefits will be frozen next year.”
