Following a GOP proposal on the deficit-cutting 'super committee' to raise tax revenues, Republicans say it's the Democrats' turn to show they're serious by making cuts in entitlement spending.
Medicare premiums are slated to rise – by about $10 a month – for most recipients in 2012. These higher Medicare premiums will eat into the extra $39 a month that the average Social Security recipient is expected to get from next year's cost-of-living adjustment.
Social Security increase less than previously thought after Medicare premiums: The anticipated 3.6 percent increase in Social Security payout next year will only amount to $29 extra per month on average after an increase of Medicare premiums.
Social Security recipients have not received a raise since 2009. That is set to change in 2012, when Social Security checks will be about 3.5 percent more than the last two years.
Medicare and Social Security advocates worry that entitlements face restructuring under the new deal brokered between President Obama and the GOP.
Social Security freeze means recipients won't get a cost-of-living adjustment for the second year in a row. But House Speaker Pelosi is pushing for a $250 payment.
Social Security turned 75 on Saturday. But with fiscal problems looming, are its future birthdays numbered?
The payments would be similar to the checks that Social Security retirees and others received in May as part of the economic stimulus legislation.