Notice the government cancelled the social security “cost of living adjustment” for next year.  I said they would do this in my Issue No. 117 editorial. The government says cancellation of the automatic increase, which is the first time they’ve done so in 34 years, is justified because of falling consumer prices. I doubt old folks will agree that their costs have gone down. They spend a disproportionate amount of their limited incomes on food and medicine.

Old folks are going to be in for a rough decade or two or three with social security. There’s not enough money! I’ve been saying it for 40 years. This is how it will be payed for: Cut the social security cost of living increases and let inflation (it might be a year off) do its work.

“Screw the old folks,” a lot of people will say. “They set the social security system up for eventual failure and now they will reap what they have sown.”

It’s a cruel world!