Reply #6: Greenspan mentioned reducing cost of living raises for retirees too [View All]

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Even though the measly 2.7% raise SS and federal retirees are getting next month will be mostly nonexistent after it gets taken up by higher Medicare and health insurance premiums, Greenspan talked earlier this year about the possibility of having to reduce the cost of living raises for those already drawing pensions.

Many retirees are opposed to Bushco's SS schemes out of fear that their pensions will be eroded by inflation, especially the high cost of health care. If I remember correctly, during Reagans term, the cost of living calculation was reformulated (downward) in order to reduce the raises in government pensions. I am expecting some kind of attempt to do this again.