Here & There Column 7-26-11

Don't Mess With Social Security

It may be time for "the folks" to get on the phone or email their senators and congressional representatives in Washington and tell "don't mess around with Social Security."
It is becoming very clear that lawmakers are thinking (now that's even dangerous) that changes might be made in how Social Security should be adjusted in times of inflation.
It is unclear at this point in time if changes will be made but some experts think some cuts could go through as President Obama has warned that unless an agreement on the current debate to extend the United States' borrowing limits is reached, Social Security benefits cannot be guaranteed starting in early August of this year.
The more knowledgeable thinking is that when inflation rises, retirees' social security checks usually keep pace with small increases.
Some lawmakers are now thinking that those raises may be a whole lot smaller in the future.
Congressional folks along with White House officials want to possibly change the way inflation is calculated.
The proposal as it now stands advocates measuring inflation with the chained consumer price index, a metric that would likely make inflation look slower than the current measurement does.
It would all result in smaller Social Security increases for seniors, something seniors cannot afford.
The proposed switch and change could definitely result in severe belt-tightening for some retirees.
Critics are saying that Washington had plenty of money to spend on the TARP bailouts and cash-for-clunkers and now nothing left for retirees who paid into the system their entire lives.
Stop even thinking about playing with Social Security payments, we put the money in and it is ours....lawmaker keep you fingers out of our till.