Seniors Get Less For Socieal Security This Year

Millions of older people face shrinking Social Security checks next year if cost-of-living adjustments are eliminated. That hasn't happened since automatic increases were adopted in 1975. It would mean that monthly payments would drop for millions of retirees because Medicare prescription drug premiums, which are deducted from Social Security payments are scheduled to go up.

Senator Bernie Sanders hopes to increase financial support for seniors by introducing emergency legislation when Congress reconvenes. SEN. BERNIE SANDERS/I-Vermont: "You got a lot of seniors out there, low income people and to say you'll be paying more for medicare and you will be getting less in social security, is not right. They are some of the most vulnerable people and can't go get a job. So, from a moral perspective we need to protect that population."

Sanders says how his senior support bill will work is still being figured out, but he expects broad support from other Senators, including Patrick Leahy. The average monthly benefit for retirees is about $1,050 year.

By law, BENEFITS cannot be reduced -- but COLA can.

Usually COLA just about takes care of the increase in Medicare Payments every year.