Press Releases

Washington, DC--- Congressman Paul Hodes, visiting with seniors at Pleasant View Retirement Community today, announced his support for reforming the way in which social security benefit levels are calculated each year. Seniors in New Hampshire and across the country are not scheduled to get a cost of living adjustment for their social security checks in 2010 due to deflation in the overall economy. Congressman Hodes supports reforming the cost of living adjustment formula to ensure that seniors are never denied the benefits that they deserve.

"New Hampshire seniors deserve their full social security benefits, particularly during these difficult economic times," said Congressman Hodes. "With retirement accounts under tremendous pressure and health care costs on the rise, seniors are seeing a net reduction in their income. This is unacceptable, and I am committed to working with President Obama and members of both parties to solve this problem immediately."

Cost of living adjustments for social security benefits are currently pegged to increases in the consumer price index (CPI). However, the CPI does not accurately reflect the everyday expenses that senior citizens encounter. Congressman Hodes is a cosponsor of the Consumer Price Index for Elderly Consumers Act. This legislation would peg social security benefits to a formula specifically for older Americans that more accurately reflects their everyday expenses. This would ensure that social security benefits’ buying power does not decrease when seniors’ expenses are on the rise.

"The current system is based on a flawed formula that can leave our seniors out in the cold. I will fight for our seniors and a fair system for determining the benefits that social security recipients deserve," added Congressman Hodes.

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