October 17,2007

Press Contact:

Baucus Comments on Social Security Cost-Of-Living Adjustment

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.)
commented today on the Social Security Administration’s announcement that the
automatic Social Security cost-of-living adjustment (COLA) for next year will be 2.3

“Today’s cost-of-living adjustment for Social Security is a good reminder of the
unique features of this program – that benefits keep up with inflation, that seniors
can never outlive their retirement benefits, and that these benefits are secure for the
long term. Social Security works. That’s why I will work in the Finance
Committee on smart Social Security initiatives that ensure a solid financial
structure for the program for the future, and why I will fight risky schemes – like
privatization – that might undermine Social Security’s ability to provide COLAs
and guaranteed lifetime benefits.”

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