Social Security Administration Says No Cost of Living Adjustment in 2011
The Social Security Administration said today that inflation is too low to justify a boost. The decision will affect more than 58 million retirees and disabled Americans.
Dizik, a retired tax preparer and social worker, said her only income is a $1,200 monthly payment from Social Security.
"Seniors who rely on their modest Social Security payments need these cost-of-living-adjustments for their day-to-day survival," said Rep. Earl Pomeroy (D., N.D.) said Thursday, according to The Wall Street Journal.
The House is expected to vote next month on a bill to provide an extra $250 payment. Still, even if the House passes the bill, it will likely face opposition in the Senate.