NJ Assembly and Senate: Help Senior Citizen Tenants survive.

Many of the senior citizen tenants in our state are staring into a financial abyss; they are often dependent on Social Security as their only source of income. In 2010 and 2011 there were no cost of living adjustments in their social security benefits, but for many their rent was increased each year. In 2012 they received a COLA increase, but their Medicare premiums were also increased. Consequently their disposable income remained the same at best and yet their rent increased again. In 2013 the COLA increase is 1.7%. Even in areas of the state where rent control ordinances are in effect, the rent increases are larger than 1.7%, the old folks fall further behind. Also in 2013 the Medicare part B premiums are increasing by 5%, the part B deductible is rising by 5% and the Part A deductible is rising 2.5%, once again life becomes more of a burden for our senior citizen tenants. They are faced with rent payments that increase faster than their social security cost of living adjustments, year after year. With the economy still struggling as far as main street America is concerned, a slow recovery if any predicted, the poor financial health of the Social Security and Medicare programs, the huge deficits and debts that the State and Federal Governments are currently experiencing, and the demographics of the baby boomers, it is very likely that in the future we will see more years when there is no increase, if not cuts in Social Security, more increases in Medicare premiums and deductibles, and cuts in programs that were designed to aid seniors in need. Many of these folks are making the difficult decisions on whether to pay their rent or purchase food, medicines, or other necessities of life. It is just a matter of time before they will be pushed over the edge into perpetual poverty, hunger and possibly into the ranks of the homeless. To allow this situation to continue seems negligent at best, if not cruel. Therefore to protect the health and well-being of senior citizen tenants it is in the public interest to guarantee those senior citizen tenants affordable rental housing at their current locations in order to avoid displacement due to rents that increase faster than their income.