Have you heard of COLA? No, it’s not the soft drink you buy at convenience stores or fast food joints when you’re looking to quench your thirst. COLA is the cost of living adjustment for Social Security and veterans’ benefits. Washington DC politicians are bringing up a budget deal that could lead to major cuts in the benefits for the next decade.
If this proposition is established that means the elderly or even veterans who are barely making it by are going to be affected dramatically.
Want to see how these cuts can affect you? Well, AARP’s website is offering its visitors an online calculator to show how your Social Security or veteran’s benefits will alter. Visit the calculator now.
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