Max richmond. This amendment deals with the cost of living adjustment. One of the most anticipated events for seniors is the announcement by Social Security of the cost of living adjustment. For the last few years, they have been disappointed with the announcement. The purpose of a costofliving adjustment is for social ensure that Social Security benefits are not eroded by inflation. This is not happening. In 2010, it was zero. 2011, it was zero. This year, 2015, it is zero. Based on that Social Security trustees report, announced a couple years ago weeks ago, it will be between zero and 2 10 of a percent for 2016. The reason Social Security beneficiaries are sincere or little cola is because the formula for determining colas is flawed. It is based on the Consumer Price index for wage earners. It looks that inflation as it impacts the weight under. It does not put the proper weight on goods and services that seniors rely on. Therefore, you get a zero cola. Your minute has concluded. I
Anyone else wishing to be heard on this particular amendment . Anyone else wishing to be heard on this particular amendment . I think it is understood by all the we will call, everyone in favor, raise your card. It passes. Anyone wishing to be recorded in opposition . [laughter] it passes. Is there another amendment . Amendment number 18, sponsored by dennis, on page six, line 37. The proposed amendment is for the section to read as follows. We encourage states to adopt the providenorth dakota and statespecific Financial Institutions to support people and industries of their states. Proponent . I want to say one thing quickly. Represent, dennis here, i am here to represent what i believe are all grassroots democrats, not one candidate over another. It is very important to me, and it was when i chaired the platform in colorado. The platform in the sentences just prior already advocates for the National Infrastructure bank, large banks see this as a threat to profits. Statesssure the ina