{"id":829,"date":"2011-05-19T17:47:38","date_gmt":"2011-05-19T17:47:38","guid":{"rendered":"https:\/\/newlindisability.com\/?p=829"},"modified":"2011-05-19T17:47:38","modified_gmt":"2011-05-19T17:47:38","slug":"report-senior-citizens-have-lost-32-percent-of-their-buying-power-since-2000","status":"publish","type":"post","link":"https:\/\/newlindisability.com\/blog\/report-senior-citizens-have-lost-32-percent-of-their-buying-power-since-2000\/","title":{"rendered":"Report: Senior Citizens Have Lost 32 Percent of Their Buying Power Since 2000"},"content":{"rendered":"
A new report from The Senior Citizens League<\/a><\/strong> (TSCL) analyzes the crooked correlation between cost-of-living for senior citizens and the yearly adjustments made by The Social Security Administration<\/a><\/strong> to account for these changes.<\/p>\n In its Annual Survey of Senior Costs, the TSCL says that since 2000 seniors have received a 31 percent Social Security Cost of Living Adjustment (COLA)\u00a0while senior citizens\u2019 cost-of-living expenses have skyrocketed by 73 percent–hence the startling figure that senior citizens have forfeited 32 percent of their buying power in the past decade.<\/p>\n In 2010 and 2011, seniors did not receive COLA<\/strong>; this was the first time since 1975 that Social Security benefits were not adjusted for cost of living. Seniors will reportedly receive a small COLA in 2012.<\/p>\n According to the report, in 2000 the average senior collecting Social Security received $816 a month; by 2011 the average check had grown to $1,072.30. But the TSCL points out that the same senior citizen collecting Social Security in 2000 would need to be receiving $1,414.70 a month in 2012 to maintain his or her 2000 lifestyle.<\/p>\n