Senate Majority Leader Harry Reid vowed Friday to pass a $250 cost-of-living adjustment for Social Security beneficiaries when the Senate reconvenes in November.
Reid's statement follows the announcement that more than 58 million seniors and other Social Security recipients will see no inflation adjustment in their retirement and disability benefits for the second in a row.
"Earlier this year I voted to provide seniors a $250 Social Security raise," Reid said in a statement Friday night. "While Republicans blocked our efforts to help seniors the last time, we cannot give up. When the Senate reconvenes, we will give seniors in Nevada and across the country this badly-needed raise. I will be working hard to gain Senate passage for a proposal that ensures that America's seniors are treated fairly."
Inflation statistics released Friday confirmed that the consumer price index has not risen high enough to allow the Social Security Administration to increase the benefit amounts legally.
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Comment: Another failing socialist entitlement program and Congress lacks the moral and intellectual ability to fix the problem. Clearly we have to do something.
The Tea Party is going to have to dig down on this issue, because this one issue that few Americans have the grit to cut.
But once we start weening the younger folks off of this mistake and remove the barriers to let them move into private retirement accounts we can take those folks off the roll who clearly don't need it and ultimately close this down for good. But it's going to take real grit to make this happen, and I don expect the senate to do this in its present form.