This Thanksgiving, Americans across the country can be thankful for four critical programs that helped keep nearly 26 million people out of poverty in 2011, including three social insurance programs: Social Security, unemployment insurance (UI), and workers' compensation, and a related program, Supplemental Security Income (SSI).
This morning the Social Security Administration announced that beneficiaries will see a 1.7% cost-of-living adjustment (COLA) beginning in their January 2013 checks. Social Security benefits are automatically adjusted to keep up with the cost of living.
Key points from the release:
Read More…Today marks the release of new data from the Census Bureau on Income, Poverty, and Health Insurance Coverage in the United States: 2011. Some key points from the report are:
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Social Security was on the agenda this week at the mid-year conference of the National Congress of American Indians (NCAI) in Lincoln, NE. This conference is a chance for tribal leaders to vote on resolutions that will establish the organization’s position on issues relevant to Native people and tribal nations. One resolution, Social Security and American Indian Elders, called for NCAI to take a position against raising the retirement age, against reducing Social Security’s cost-of-living adjustment (COLA), and for finding broader sources of income to ensure Social Security’s solvency. In essence, the resolution asked NCAI’s member tribes to push back against cuts to Social Security.
I’m a young American; I value Social Security; and this week in particular, I’m feeling reassured that Social Security is on solid footing and will be there for me when I need it. In fact, I see it as a great investment.
To some, these statements might seem unrealistic, especially given all the negative media coverage that followed the release of the 2012 Social Security Trustees Report last week. But despite the doomsday responses, the reality is actually reassuring – especially for today’s young people, who are used to hearing misleading accounts to the contrary.
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