Social Security in Jeopardy - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Social Security in Jeopardy

It hasn't happened in more than thirty years, and many area senior citizens say it's devastating.

They're not sure how they're going to survive without an increase in their social security checks.

We spent part of Wednesday afternoon at the Amarillo Senior Center, and many of the folks here say they depend on their social security checks to get by... But this year, they will probably not be receiving the yearly increase they're used to.

That's because the increase is dependent on inflation... And that didn't go up this year, so neither will their checks. Seniors over at the Hilltop Senior Center aren't thrilled with the idea either.

William E. Clark says, "I paid into it ever since I became of age to pay into it. Did it till I retired and now they wanna cut back on it. That's the saddest story I've heard today."

For those who survive on those monthly checks, things could get even worse... Some might see their checks shrink because medicare payments are deducted from the total, and those costs are going up.

Dan Mulder says, "That's all I've got. That's it. If I live to be 80 I won't have enough to buy a loaf of bread every week."

While the official announcement about the status of these raises won't come until October, the Social Security Administration says it's all but official and seniors should start preparing themselves now.

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