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Sunday, January 23, 2022

It’s official: No COLA for Social Security

The Social Security Administration makes it official Thursday: There will be no cost of living increase for Social Security recipients next year, the first year without one since automatic adjustments were adopted in 1975.

The announcement comes as President Barack Obama and key members of Congress call for a second round of $250 payments to more than 50 million seniors, veterans, retired railroad workers and people with disabilities.

The payments would be equal to about a 2 percent increase for the average Social Security recipient. The cost: $13 billion.

Obama called on Congress Wednesday to approve the payments, and several key members of Congress said they would.

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Senators pledge ‘no failure’ on health care reform

Top Senators working with the White House to merge rival health care bills reported no breakthroughs after a first day of talks but promised that “failure is not an option.”

The congressional front of US President Barack Obama’s historic fight to remake health care has moved behind closed doors as his Democratic allies seek a consensus bill before final votes in the Senate and House of Representatives.

Democratic Senate Majority Leader Harry Reid hosted talks with top White House aides including chief of staff Rahm Emanuel, as well as Senate Finance Committee Chairman Max Baucus and Senator Christopher Dodd, who shepherded a version of the legislation through the Senate’s health committee.

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