What the "fiscal cliff" Social Security proposal means for benefits

12/19/2012 | NBC News · ABC News

President Barack Obama and House Speaker John Boehner are discussing a possible change to Social Security's benefits formula as part of the "fiscal cliff" negotiations. The proposal would adjust the formula by which cost-of-living increases are calculated. Experts say the change could mean slightly smaller annual increases in benefits. Some say that would burden seniors, who spend a larger portion of their money on health care, the cost of which has risen especially fast.

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NBC News · ABC News

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