While hold harmless provides valuable protection from reductions in benefits due to rising Part B costs, low inflation and high Medicare costs restrict the growth of net Social Security benefits. This occurs when Part B increases take the entire COLA. This leaves less Social Security income to cover all other rising costs such as out-of-pocket medical expenses, food and housing, requiring people to spend more of their retirement savings or to go into debt. .According to the study, the Social Security Cost-of-Living Adjustment (COLA) has increased benefits just 38% since 2000, while typical senior expenses have jumped 81 percent, more than twice as much. Seniors with average Social Security benefits in 2000 received about 6 per month, a figure that rose to ,129.80 by 201However, those seniors would require a Social Security benefit of ,477.00 per month in 2013 just to maintain their 2000 level of buying power. .If signed into law, the Social Security Protection and Truth in Budgeting Act would amend the Social Security Act to ensure that receipts and disbursements of the Social Security Trust Funds are not included in a unified federal budget. It would also mandate that Trust Fund monies cannot be diverted to create private accounts. .In our meetings on Capitol Hill, we're frequently told that Notch reform would more likely be addressed when Congress takes action on comprehensive Social Security reform, as it appears to be interested in doing now. TSCL is meeting with Members of Congress to ensure that Notch Reform is considered. .In the final weeks of the 111th Congress, TSCL will continue working to prevent cuts to Social Security benefits that are already insufficient for too many of our nation's seniors. .Planning healthcare costs is extremely important, but not an easy task. According to the Kaiser Family Foundation, healthcare expenses, on average, accounted for nearly 15 percent of Medicare household budgets in 200But even if you're in good health today, you're not out of the woods. The amount you spend on healthcare not only grows every year, but your need for more healthcare services increases with age. .Indeed, during the 2005 debate over Social Security reform, one of the leading proposals would make changes to the benefit formula similar to those made in 197The proposal would tie the calculation of the initial retirement benefit to changes in price inflation. According to an analysis of a leading proposal by the Congressional Budget Office, when benefits are charted on a graph as shown here, they illustrate a "precipitous decline" in benefits and an all too familiar "V" shaped Notch. .Although it's illegal for immigrants to work in this country without a valid Social Security number, millions of illegal workers readily obtain forged or invalid Social Security numbers and show them to employers to get jobs. Employers use the invalid Social Security numbers for reporting earnings to the Social Security Administration. .For most retirees the average Social Security benefit of ,100 is their main source of income. But the sluggish economy has made the federal budget deficit, including that of Social Security, balloon more rapidly than expected, according to a new report from the Congressional Budget Office (CBO). In 2010, for the first time since 1983, annual costs for Social Security exceed annual revenues, and that won't improve very much in coming years. Instead, it will become a persistent problem.