categories
Expand Social Security
Category: politics Hits: 1746
HereÂ’s an infographic detailing how this new budget affects seniors, and how lawmakers and citizens are uniting to change it. Unfortunately, retirement is not as secure as people believe. In fact, 67% of individuals wonÂ’t be able to afford their standard of living once they retire-including health and long term care. Nearly 2/3 of individuals rely on social security for 23% of their income, and 36% of seniors say that social security makes up 90% of their income. With those numbers, itÂ’s important to see how the new budget, proposed by President Obama, would affect those looking to retire. This proposed budget creates a new consumer price index (CPI) that helps track inflation, along with cost of living adjustments. President ObamaÂ’s budget adopts a chained CPI, which doesnÂ’t take into consideration costs such as food or medication. It also assumes that people will automatically purchase cheap substitutes for commonly consumed items. Brought to you by Ghergich & Co. in partnership with Democracy for America.
