Jul
20
2011
By Guest (not verified)
I have to be on Social security Disability, and because of the news lately I'm fearful of either getting a cut in my benefits, or get my benefits cut altogether!! Worried like heck, can anyone shed some light on this matter for me. The news is sketchy as usual.
Potential Social Security benefit cuts
This is highly speculative as so far all of this is "talk" with no final legislation at this point.
The only potential Social Security "cuts" I've heard of is with regard to a modestly unfavorable reduction in the Cost of Living Allowance (COLA) for Social Security recipients. For example, if annual inflation is 3.5 percent, the actual COLA awarded Social Security recipients may be only 3 percent. This is modest over one year, but can add up over a ten-year period.
Again, this is highly speculative. Stay tuned.