Monday, October 11, 2010

Senior citizens brace for Social Security freeze - Yahoo! News

NOTE: Bold is mine and added to show why this article is on my Foreclosures Evictions and You blog.

Senior citizens brace for Social Security freeze - Yahoo! News: "'For people who have worked their whole life and tried to scrimp and save and try to provide for themselves,' said Baldwin, a 63-year-old retired teacher, 'it's difficult to see that support system might not sustain you.'
Baldwin and her husband mapped out their retirements, carefully calculating their income based on their pensions and Social Security checks. Trouble is, they expected an annual cost-of-living increase.
'When we cut back, we're cutting back on niceties,' Baldwin said. 'But there are other people that don't have anything to cut back on. They're cutting back on food and shelter.'
Many at St. Andrews said the cost-of-living decision won't affect who they vote for next month. But seniors tied the Social Security issue to what they see as a larger societal problem with debt, entitlements and hopefulness for the future.
'I'm kind of glad in a way,' Stella Wehrly, an 86-year-old retired secretary, said of the freeze. 'One thing depends on the other and when people aren't working there's not enough people feeding into the Social Security system.'"

1 comment:

Rose said...

If you own your home you should look into the HUD Federally Insured HECM.

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