I've been wondering how long 0bama can get away without giving a COLA to Social Security recipients. I suspect the BLS will find a way to give out a small COLA this year...but it will not match the runup in prices.
By understating inflation the BLS helps the federal government in 2 ways. One, it allows them to give out smaller Social Security COLA's than what they should. And, two, tax brackets are indexed to inflation so workers are hurt by "bracket creep".
Yeah. It’ll be interesting to see what they say the inflation rate is/was for this year and what they’ll tell the seniors. It seems that the government workers get their COLA right on time regardless of inflation.
You should see the line of FRAIL elderly seniors in wheelchairs, walkers, canes, etc that line up in the SOUP LINE...er commodity line at my community center each month...it’s grown by triple in the past 2 years. This for a few cans of fruit and veggies.
No only didn’t we Seniors get a COLA raise for the past 2 years, neither did those on Militray pensions. On top of that hubby’s Navy pension went down $120 through tax code fiddling in ‘10, and in ‘11 it gets hit by over $300 in more taxation. Our tax return this year is less than $190 as we are down to short form.