The holiday season is a time for friends and family to gather in celebration and reflect in gratitude. The young may enjoy the company and wisdom of their parents and grandparents while the seniors may revel in the company of the family and the friendships they have built over their lifetime.

It is in this mindset, though, that we should remember that many of our parents, grandparents, and friends are struggling.

Over 182,000 seniors in New York City earn under $11,000 a year, and depend heavily on their social security check as their sole source of income. And frankly, Social Security isn’t a lot; the average Social Security income in New York City is only $13,505. As any New Yorker can attest, even the generous estimation of $24,505 a year is hardly enough to cover daily living expenses, combined with the costs of insurance and medication.

In reality, incomes are worth less by the year, since the cost of everything — food, heating, oil and medicine — is skyrocketing.

A study released by my office in October revealed that the costs of living in New York City are outpacing the cost of living allowances (COLAs) from Social Security. Although COLAs have increased by 5.8 percent this past year – the largest increase in 25 years – this does not nearly match the percentage increasing for a variety of daily necessities. Think about it, during 2007 alone:

-Medicare prescription drug premiums have risen by 12 percent

-Rents for rent stabilized apartments have increased by as much as 8.5 percent

-Food prices have increased by 7.3 percent - the biggest increase in any 12-month period since 1990.

We need to help our seniors face these difficult times. That’s why I have introduced the COLA Fairness Act to require that COLAs be determined by region so as not to penalize seniors living in more expensive areas. This change would deliver a 2 percent boost in Social Security benefits over the next five years.

While many New Yorkers are struggling with rising prices, our senior citizens are taking it on the chin. The last thing New York City seniors should have to worry about after spending a lifetime working, paying taxes, and playing by the rules is affording food or housing. We can do better for the senior members of our communities. Especially now, during this season of compassion and generosity, we should care for our friends and families.

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