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The hearing, entitled "'The Recession and Older Americans: Where Do We Go From Here?' focused on the effect of the 2007-2009 recession on adults 55 and older, and how growing unemployment, the collapse of the housing market, and a large drop in lifetime savings has affected the retirement security of older Americans. The hearing looked specifically at the income, health, and labor market challenges of retirees and those nearing retirement and will also focus on how the Cost of Living Adjustment within Social Security is calculated."
The hearing was convened by the Senate Committee on Health, Education, Labor and Pensions (HELP) Subcommittee on Primary Health and Aging.
"Many older adults are barely getting by, and a lot of their current options for help are disappearing," said Dr. Nathan. "Congress needs to find creative ways to ensure better coordination of existing public and private resources so that one of our most cherished populations is not left out in the cold in the twilight of their lives."
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Dr. Nathan's testimony provided
In addition to aging service experts and academics, the panel heard testimony from a struggling older adult who was one event away from economic crisis, before receiving critical employment and training services that helped turn her life around.
Over the past year, NCOA has captured thousands of stories and videos from across the country as part of OneAway, an innovative advocacy campaign that uses video to allow vulnerable and disadvantaged seniors tell their stories of struggle in their own words.
The campaign is asking organizations and individuals to show their support for the Older Americans Act so it can continue to help seniors stay healthy, secure and independent.
More than 13 million older adults live in or on the edge of poverty, with less than $22,000 each year. These seniors live one bad break, one accident, or one layoff away from economic disaster.
To see more stories of struggle, or to support older adults, please visit www.OneAway.org.
About NCOA
The National Council on Aging is a nonprofit service and
advocacy organization headquartered inWashington, DC.
NCOA is a national voice for millions of older
adults—especially those who are vulnerable and
disadvantaged—and the community organizations that serve
them. It brings together nonprofit organizations,
businesses, and government to develop creative solutions
that improve the lives of all older adults. NCOA works
with thousands of organizations across the country to
help seniors find jobs and benefits, improve their
health, live independently, and remain active in their
communities. For more information, please visit: www.ncoa.org |www.facebook.com/NCOAging |www.twitter.com/NCOAging