Ignoring the fact the education costs have skyrocketed since they went to school
I thought we just got Social Security which is a fixed rate.
Our society has completely forgotten how prevalent and crushing elder poverty was prior to Social Security and Medicare being enacted.
The majority of seniors in this country depend at least partially, if not wholly, on Medicare/SS to not be destitute and uncared for. The numbers for retirement/health savings for seniors beyond Medicare/SS are very bleak.
And yet we are perpetually at risk of throwing it all away for some short-term political points.
Going back 70 years, you could say that about most large scale services.