Is your COLA too high?
Nearly every year, Social Security recipients receive a modest cost of living adjustment or COLA. However, many on Wall Street and in Washington believe the COLA is too generous. These are the same folks who, in the past, attempted to implement the benefit cutting Chained CPI and are calling for drastic and unnecessary cuts to Social Security benefits.
But this year, the early reports are saying that there will be no COLA--but that Medicare premiums could rise almost 50%!
This goes to show: We need to expand Social Security benefits, not cut them.