Some in Washington are considering a budget proposal that would change the cost-of-living-adjustment (COLA) for Social Security and veterans' benefits, resulting in a combined $129 billion in cuts over the next ten years.
The COLA change would hurt seniors and veterans who are already living on tight budgets stretched by prescriptions, utility bills, mortgages and health care costs.
I calculated exactly how much I would lose if Washington changes the COLA, and I was shocked to find that I would lose:
DOLLARS OVER X YEARS
DOLLARS OVER X YEARS BEGINNING AT AGE 62
DOLLARS OVER X YEARS BEGINNING IN 2014
On behalf of America's seniors who have worked hard to earn their benefits and veterans who have already sacrificed so much for this great country, I urge you to reject this shortsighted change and instead find responsible ways to address our nation's budget challenges. Please leave Social Security and veterans' benefits out of any budget deal.