Tomorrow the Social Security Administration will make it official: no 2010 cost of living increase for seniors. Why? Because there was no inflation over the last 12 months.
For more on this, check out this blog entry.
Today, the Obama administration jumped out in front of the news, announcing it will support a $250 payment to seniors (and veterans and the disabled) because they are "are struggling to make ends meet with retirement savings that have not fully recovered from their losses over the first year of the recession."
By that logic, wouldn't most of the country qualify?
The White House announcement avoids any mention of the COLA issue, except to say that the announcement is tomorrow. But this clearly sets a precedent for adjusting the COLA if the results are not politically acceptable.
Comments
Where do government officials dhop??? There certainly has been inflation of prices.Each week that i shop for food the same items increase. the only change for the better is when the stores have sales or when frut and vegetables are in season and there has been a bumper crop. clothes are expensive as are restaurants. Seniors are gretting the shaft!!! sondra Grossman
Where do government officials dhop??? There certainly has been inflation of prices.Each week that i shop for food the same items increase. the only change for the better is when the stores have sales or when frut and vegetables are in season and there has been a bumper crop. clothes are expensive as are restaurants. Seniors are gretting the shaft!!! sondra Grossman
Is THIS "Change I can believe in"? Wall street executives pocket millions of dollars in bonuses and poor people on Social Security, what do they get? If Obama has his way, Seniors will get 68cents a day ($250 dollars a year) This is an insult to Veterans and Social Security recipients. Obama doesnt want to help the poor, he wants to help Keep them poor!
Let's do a little business math, here.
In June of 2009, retirees got $ 250.00.
The average monthly increase for income is
usually $ 10.00. What will be the amount
of money paid to a retiree less a two year
null and void increase?
Scratch your head hard y'll!
For 2010, at twelve months equals $ 120.00;
For 2011, $ 240.00, in respect to 2009.
Now, the subtotal that the Social Security
will save is $ 360.00; subtract that $ 250.00
for 2009 stimulus package = Social Security
wins at the Casino for $ 110.00 per person.
Is this the economics anyone would favor?
If so, Suppy Sales wants you to go into your
father's wallet, take out a picture of Abraham Lincoln, and mail it to him. What a Country !
The Social Security cost of living adjustment is messed up!
http://robvstate.com/2009/10/10/social-security-cola/
A number of people drawing social security are still fully employed and are not "struggling to make ends meet with retirement savings...." I assume they will get the $250? If so, that hardly seems right.
No COLA this year means a cut in income for a lot of us. Insurance costs will surely go up. We can use a $250 one time payment so we can give it to the insurance companies.