I am 68 years old and I rely on Social Security as my only source of income. I worked for over 50 years in low-wage work. While my benefits prevent me from being homeless, they are barely enough to get by on.
The current cost-of-living adjustments do not truly reflect the the country’s economic realities. Social Security needs to adopt the Consumer Price Index for Elderly, which is specifically geared towards the costs the elderly face. Every year, the costs of my housing, healthcare, and other needs increases….but my Social Security benefits do not keep up. Our seniors, especially people of color, cannot continue to bear the brunt of an economy and system designed for the wealthy. We need to implement the CPI-E now.