Political Quotes

“In October, the Social Security Commissioner announced there would be no cost-of-living adjustment--or COLA--for Social Security benefits in 2011. This is the result of economic conditions. It is not due to action or inaction on the part of Congress. Congress enacted legislation in 1975 to provide for an automatic cost-of-living adjustment so seniors would not face year after year of rising prices for daily expenses with no increase in benefits. Unfortunately, due to the formula, next month will mark the first time since 1975 when the automatic COLA will not increase for the second year in a row. Because the recovering economy is slowly turning around, prices tracked by those bureaucrats measuring these items find that it has not reached the peak of inflation in 2008 caused by the spike of energy prices. So it is an anomaly within the formula providing no cost-of-living adjustment. Any of us visiting with our senior citizens across this great land understand something quite different has occurred within the life of our seniors: they are experiencing higher prices. In fact, this is causing a hardship for so many, given the fact that Social Security benefit levels are really very modest. They are $14,000 for the average retiree. It is $13,000 on average in North Dakota.”