Social Security Increase: The Whole Truth

The Washington Post yesterday reported that Social Security payments will increase next year by 2.7 percent. This is the largest increase since January 2001 and will affect more than 47 million retired and disabled workers. That sounds wonderful. And are we expecting Bush to repeat this good news many times a day between now and the election? Of course, we are. $25 more a month! Goody! Maybe we can all go out to eat at Appleby's! But wait. That's not all, you say? Oh, no.....

For senior citizens enrolled in Medicare, nearly half that increase will be consumed by rising health insurance premiums. The premiums, which are deducted from Social Security checks, will rise 17.5 percent next year, an average $11.60 per month. Oh, and there's the little problem of increases in the cost of transportation, medical care, recreation, education, food, and energy. Well, cheer up! Maybe we can still go to Appleby's, but we'll have to get the small salad. And we can always order water. So far there's no charge for that. We just have to hope there's not too much arsenic in it.

P. S. Please vote for Kerry and Edwards so that we can survive at least the next 25 years. Or am I being too optimistic?

[For the full story, click on the title of this blog.]