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Serving our Seniors
August 20, 2010
Dear Friends,
Social Security was established in 1935 as a national plan designed to provide economic security for our nation’s workers. Today, it provides benefits to 48 million retired and disabled workers and their families, and to the survivors of deceased workers. Social Security is the single largest source of retirement income in the United States.
In October, the Social Security Administration is expected to announce that there will not be a cost-of-living adjustment (COLA) for Social Security benefits for 2011. For the first time ever, the result will be a second consecutive year where Social Security retirees, veterans, and people with disabilities saw no increase in their monthly Social Security, SSI, VA Pension and Compensation, and Railroad Retirement benefits.
In response to this unfortunate situation, I have signed on as a cosponsor of H.R. 5987, the Seniors Protection Act of 2010. This bill will provide a one-time $250 payment for retirees and other beneficiaries if there is not, in fact, a cost of living adjustment, which will help hold these vulnerable groups harmless from the unprecedented hardship caused by the recession’s impact on COLAs.
H.R. 5987 is a temporary solution to assist our seniors. In order to address COLAs in the future, I am a co-sponsor of the Consumer Price Index for Elderly (CPI-E) Consumers Act, H.R. 2365. This bill would require that COLAs no longer be indexed according to the CPI, but instead be indexed by the CPI-E which more accurately reflects the purchasing habits of elderly consumers. Thus, if COLAs were based on the CPI-E index, which accounts for such things as high health care costs, we could more fairly compensate our seniors.
While modest changes need to be made to keep the program solvent, Social Security has proven to be a stable source of income for millions of people throughout the last 70 years, and privatization is simply not the answer. Privatization would dismantle Social Security, subjecting a guaranteed defined benefit to the volatility of the stock market. We must work towards a solution that will strengthen Social Security, not weaken it.
In addition, I oppose any cuts to Social Security benefits. Social Security is a contract between the American people and the American government. It reflects the duties and values we share as Americans. We owe it to our grandparents, our parents, ourselves, and most importantly, our children to ensure its vitality.
Please feel free to contact my office directly at 202-225-2731 if you need assistance in securing your Social Security.
Sincerely,
U.S. Congressman Mike McIntyre
Representing the 7th District of North Carolina
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Lumberton, NC
500 North Cedar Street
Lumberton, NC 28358
(910) 735-0610
fax (910) 739-5085
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301 Green Street, Room 218
Fayetteville, NC 28301
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Wilmington, NC 28401
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2437 Rayburn House Office Bldg.
Washington, DC 20515
(202) 225-2731
fax (202) 225-5773
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