Apr 10, 2013

Floridians Unhappy with Plan to Cut Back on COLAs

"...In Congress and in retirement communities across the state, Floridians are rising up against President Barack Obama's forthcoming budget proposal to trim yearly cost-of-living raises in Social Security benefits.

Three out of four Florida voters age 50 and older said they opposed the president's Social Security plan, according to a statewide AARP poll released on Monday. And some of the president's strongest allies in Congress are pressing against his bid for a budget compromise with Republicans, which he plans to unveil on Wednesday.

Obama touched a nerve in the Sunshine State -- a retirement haven where one in five residents receives a Social Security check -- by signaling a willingness to accept smaller cost-of-living raises by changing the way inflation is figured..."

Read more at the Sun Sentinel

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