With all the talk about changing the cost of living (COLA) calculation for Social Security benefits and the accompany scare rhetoric, one would think the proposal was to cut current benefits.
The reality is that the future COLA under the proposal is estimated to be 0.3% less than under the current calculation. That means if the COLA adjustment was going to be 3.0 it would instead be 2.7.
That seems a very modest individual sacrifice to extend the solvency of Social Security for the next generation. The 0.3% is about $3.60 per month on the average monthly benefit. Even for those with the maximum Social Security benefit, the loss would be less than $8.00 a month. Yes, the effect is compounded, but getting a bit less of something you never had is still a minimal loss.
A diet COLA is still a sweet drink.
QUINNSCOMMENTARY 
Your taking Social Security to a level where a senior citizen has hard times living paying bills and eating. Your wanting to take away our protection, the cost of gas has no problem going up and we can either pay it or walk. I like to ask the goverment what is next cause right now you remind me of an adult with a child they hate. That saying “You need to stop doing things for somone when you find out it’s expected rather than appreciated”. Well I can speak for all senior citizens we don’t expect anything from you and appreciate what little we recieve while your up there making decisions of how to cut my benefits and still go collect your $250,000 pay check. Let’s just see what the difference is there between you and me I recieve approx $20,208.00 a year which makes it $229,792.00 more a year than I recieve. I earned my social security from hard work as you earned your pay check by finding ways to screw over the citizens of this great country. Well continue doing this and we will see how well you suceed in the next world. I don’t think we will ever meet becuse we are both heading to a different destination where pay won’t matter.
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