Poor Americans remain poor by Nina Gotzmannova

Almost 50 million Americans, who are receiving monthly checks from Social Security, will be a little bit disappointed next year. Unlike other years, the increase of the sum they will see on their checks will be the smallest in four years.The cost-of-living income will increase only 2.3 percent in 2008. In 2007 it was 3.3 percent, in 2006 4.1 percent. The Social Security and Supplemental Security Income benefits increase automatically each year. The jump is based on the rise of CPI-W from the third quarter of the prior year, from July to September. But although the aid will rise only 2.3 percent, the real cost of living has increased more.The consumers will have to pay more for heating their homes in winter, because the price of oil is higher than ever. Food and medical care are more expensive too. And energy, food and medical care are the things that elderly and disabled people, those who need the help of Social Security at most, need to buy first.In the next year Social Security will have to deal with another problem. Its name is 'baby boomers'. The strong generation of people born after war in years 1946 to 1964 will become eligible for the Social Security benefits in 2008. And the amount of them is incredible 78 million people.The pension program will suffer from overpopulating, because for the next twenty years will 10,000 people every day ask for Social Security benefits. So now is it a problem for U. S. government to solve, where to find these money for so many people and provide in nice and pleasant green old age.

related story: http://news.yahoo.com/s/ap/20071017/ap_on_go_ca_st_pe/social_security;_ylt=AgccyHvoLdf.48tWeSkLnles0NUE

by Nina Gotzmannova for PocketNews (http://pocketnews.tv)

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Edited by Iveta Nagyova