If they based the social security cost of living on the actual basic needs of retirees it would be higher than it is.
Food, electricity, health insurance, health care, to name a few.
Meicare part B this year alone went up 5% for 2013.

I could see increasing the age to retire for retirees. There are other areas in social security that need serious looking at too.

You think about Obamas position on cutting federal spending you can see what he is up against. Obama knows he is spending to much. I think he does it to appease his voter base.
With this so called fiscal cliff not getting done by his current actions is intentional or not I do not know. He set high goals for the republicans to give on.

Obama could figure going over the fiscal cliff is more of an advantage to have higher taxes on all plus the big budget cuts will kick in. Going over the cliff without passage this year will give him the opportunity to piece meal legislation on taxes and budget cuts.
All this hoopla about the fiscal cliff could very well could turn out to be a better option for the nation that it is not passed this year.
Obama save face with his base on the deal and the conservative republicans save face on the deal. Hammer it out after the first of the year piecemeal. Could end up better for the nation in the end.
Just my opinion.

Yes it could jap, but it's not going to help the millions of Individuals who are still unemployed and will lose their benefits after Dec 31st...

my husbands entire plant got laid off today.

They say why sully?