New at Reason: Steve Chapman on Treating the Elderly Like Spoiled Brats

October 19, 2009

The federal government recently announced that for the first time since cost-of-living adjustments were begun in 1975, Social Security recipients will not get an annual raise in their monthly checks. In response, President Obama has proposed giving every Social Security recipient a tax-free $250 bonus in lieu of a cost-of-living adjustment. But as Steve Chapman writes, the people hit hardest by the recession are those who have seen their earnings vanish along with their jobs. Social Security recipients, on the other hand, are assured of a stable stream of income even when companies are cutting payroll with a chainsaw.

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