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Camp Reaction to No Social Security COLA

October 15, 2010

Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) today issued the following reaction to the announcement by the Social Security Administration that there would be no annual cost of living adjustment (COLA) next year:

“It will be difficult for many seniors to deal with the lack of a COLA for a second year in a row, but that will pale in comparison to the actual hardships future Social Security recipients will experience if Congress continues to ignore the program’s underlying financial problems.  We must put Social Security on a path to long term solvency and the sooner we do so, the better it will be for both taxpayers and beneficiaries alike.”