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First-Ever Freeze In Social Security Benefits

Last updated on Tuesday, August 25, 2009

(UNDATED) - A first-ever freeze in Social Security benefits may force Indiana senior citizens to rethink their budgets.

Prices have stayed flat or gone up four months in a row, but a plunge in gasoline prices since last summer's $4 a gallon gas means a net deflation of nearly 3% for the last 12 months.

That means no cost-of-living adjustment for Social Security recipients.

By law, Social Security benefits can't be cut.

But recipients who have their Medicare drug premiums withheld from their check will see a $2 cut in their monthly check.

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