WAUSAU(WAOW)-- Senior citizens who rely on social security won't see a raise next year. This is the first time that's happened since the automatic cost of living adjustments were adopted back in 1975. The reason is the absence of inflation due to the recession.
Newsline 9 went to Wausau's Aging and Disability Resource Center for reaction. Sharon Davisson Director ADRC outlines what that means for many seniors, "They're likely to see increased costs in the new year but not increased income, so they are going to have to pinch pennies a little more its going to be harder for them."
The announcement about no COLA increases comes just after the President called for a second round of $250 stimulus payments for seniors, veterans and people with disabilities. Some herein out area worry what that means for future generations. Arthur Borchardt of Wausau says, "They're spending a lot of money us old people won't have to worry about it.. but the younger ones are going to have to pay for it."
More than 50 million Americans receive social security benefits.