TSCL Presents 2012 Seniors Advocate Award .While Ponzi relied on keeping his financing scheme secret, Social Security's financing is well known. The Social Security trustees issue a detailed report every year that outlines the projected financing and outlays and funding problems of the program. .Thus the new formula went into effect almost immediately for most people and is one reason why retirees born over the ten-year period of 1917 through 1926 were affected, not only those covered by the five-year phase-in. In addition, the economy did not perform the way Congress and the Social Security Administration assumed it would under the new benefit formula. Slower than anticipated wage growth, and higher than expected price inflation, resulted in even greater benefit reductions than under original assumptions. These economic conditions persisted for a decade, thus affecting those born over a ten-year period. .Sadly, Washington is feeding Americans misinformation about Medicare and how we are trying to save the program. No one in Washington wants to see our seniors suffer. But the truth is undeniable: If we don't address this now, together, Medicare really will end. If anyone else tells you differently they are not facing reality. We must take steps — even small steps — to address this. That's what this Resolution does: it forces us to consider two steps toward common ground. .Congressional Impasse Results in Shut-Down .Benefit Bulletin: September 2021 Most Look Forward to Boost; Low-Income Retirees Worry Benefits Could be Trimmed .Very modestly boosting the payroll tax paid by workers and matched by employers to employers. .On Tuesday, the Senate Finance Committee held a hearing to delve into the topic of rising healthcare costs. Echoing the hopes of his colleagues on the Senate Health, Education, Labor and Pensions (HELP) Committee, Finance Committee Chairman Orrin Hatch (UT) said in his opening statement, "I want to find a bipartisan path forward." .For this reason, TSCL announced its support for the Protecting Seniors' Access to Medicare Act back in March, and our legislative team has been busy advocating for it on Capitol Hill. The bill's sponsors expect the House Ways and Means Committee to take it up before the end of the year, and they are hopeful that both chambers will pass it shortly thereafter. For updates, visit and, on our new Facebook page, at www.Facebook.com/SeniorsLeague.