Bush’s Unveils Budget Plan
In his speech on the budget, President Bush stated that “We have a moral contract with our senior citizens. In this budget, Social Security is fully funded, including a full cost-of-living adjustment. We must honor our contract.”
In his message accompanying the budget, Bush said he would eliminate the cost-of-living adjustment for federal retirees for one year.
The statute authorizing cost-of-living increases for federal retirees antedates that for Social Security recipients.
Why a “moral contract” is recognized for senior citizens receiving Social Security (including eligible federal retirees) and not for federal retirees over age 65, without Social Security, is incomprehensible.
FRANK SHERLOCK
San Diego
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