Pandering, misleading, short-sighted, fiscally irresponsible politicians in action.
House lawmakers are proposing emergency legislation to increase the 2021 Social Security cost-of-living adjustment to 3%. The move comes just days after the Social Security Administration announced that the COLA for 2021 would be 1.3%. “Due to the COVID-19 pandemic, seniors are facing additional financial burdens in order to stay safe,” said Rep. Peter DeFazio, D-Ore., in a statement on Thursday. “This absolutely anemic COLA won’t even come close to helping them afford even their everyday expenses, let alone those exacerbated by COVID-19.”
During the peak of the pandemic, most of our expenses went down, not up. Even routine health care was postponed. No eating out, no movies or theater, less driving, zero travel, no shopping, not even going to museums or any low cost activities. And most retirees didn’t lose their job.
Sure, some goods saw prices increase, but a lot of that was unavailable anyway.