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Social Security increase for 2013 could be lowest since 1975 (Obama's policies at work)
fox news ^ | 10/14/2012 | ap

Posted on 10/14/2012 6:44:48 AM PDT by tobyhill

Social Security recipients shouldn't expect a big increase in monthly benefits come January.

Preliminary figures show the annual benefit boost will be between 1 percent and 2 percent, which would be among the lowest since automatic adjustments were adopted in 1975.

Monthly benefits for retired workers now average $1,237, meaning the typical retiree can expect a raise of between $12 and $24 a month.

The size of the increase will be made official Tuesday, when the government releases inflation figures for September. The announcement is unlikely to please a big block of voters -- 56 million people get benefits -- just three weeks before elections for president and Congress.

(Excerpt) Read more at foxnews.com ...


TOPICS: Extended News; News/Current Events
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1 posted on 10/14/2012 6:44:51 AM PDT by tobyhill
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To: tobyhill

What is the basis for any increases at all?


2 posted on 10/14/2012 6:47:47 AM PDT by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: Jim Noble; tobyhill

It’s a COLA. This assumes old people don’t eat or drive.

http://www.zerohedge.com/contributed/2012-10-12/inflation


3 posted on 10/14/2012 6:50:44 AM PDT by Perdogg (Vote like the US Constitution depends on it - it does!!)
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To: tobyhill
Monthly benefits for retired workers now average $1,237, meaning the typical retiree can expect a raise of between $12 and $24 a month.

As someone who depends (not totally) on SS retirement benefits, I see no reason why there should be any increase at all in light of the condition of the system.

4 posted on 10/14/2012 6:51:07 AM PDT by Roccus (POLITICIAN...............a four letter word spelled with ten letters.)
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To: Jim Noble
It's to buy votes.
5 posted on 10/14/2012 6:51:46 AM PDT by tobyhill (Obamacare, the final nail in the US coffin.)
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To: Jim Noble
COLA or Cost Of Living Adjustment. Supposedly you are suppose raise or lower the amount of the SS payment by the inflation rate. So a 2% inflation would equal a 2% raise in the payment.

But the US government likes to play games with the numbers.

6 posted on 10/14/2012 6:53:31 AM PDT by Harmless Teddy Bear (Fate plays chess and you don't find out until too late that he's been using two queens all along)
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To: tobyhill

We don’t know if Medicare Part B is going to chew this up.


7 posted on 10/14/2012 6:54:32 AM PDT by Sacajaweau (r)
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To: Roccus

We already had two years of that ~ subsequently the government has dramatically increased the money supply ~ some think there’s some lurking inflation in that ~ maybe not. In either case an adjustment for cost of living doesn’t put more real value in your pocket.


8 posted on 10/14/2012 7:00:22 AM PDT by muawiyah
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To: Perdogg
How about the IRS Interest rate which is determined quarterly and is the federal short-term rate plus 3 percent. Interest is compounded daily. Currently the Short-Term Rate for Oct-2012 is 0.23%. So 0.23 plus 3.0 = 3.23%.

SS has an increase between 1 percent and 2 percent, while the IRS charges twice as high a rate!

9 posted on 10/14/2012 7:14:05 AM PDT by Lockbox
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To: Perdogg
Exactly. We have a none growing, inflation induced economy.
10 posted on 10/14/2012 7:14:25 AM PDT by tobyhill (Obamacare, the final nail in the US coffin.)
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To: tobyhill

There was no increase in COLA in 2010 and 2011.


11 posted on 10/14/2012 7:15:17 AM PDT by kabar
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To: Roccus
I see no reason why there should be any increase at all in light of the condition of the system.

there were no increases during the previous two years.............did the condition of the system improve? Didn't think so.............

12 posted on 10/14/2012 7:20:05 AM PDT by varon
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To: Sacajaweau

“”We don’t know if Medicare Part B is going to chew this up.””

It always does, I think. No COLA, no increase in Part B. When they do increase it, Part B goes up accordingly.

Like someone here said, we don’t eat or drive!!


13 posted on 10/14/2012 7:31:49 AM PDT by Thank You Rush
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To: tobyhill
Well, it makes sense that there would be little to no raise is SS benefits.

The price of luxury cars and boats is down, along with expensive 2nd homes. A new Ipad costs less than the first computers. Wages for maids and butlers is flat or falling.

These are the things seniors spend their money on, not food, fuel, and medical bills, all of which are skyrocketing./ Sarc.

14 posted on 10/14/2012 7:34:23 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Thank You Rush

My last COLA was $32. Part be took 1/3.


15 posted on 10/14/2012 7:40:36 AM PDT by Sacajaweau (r)
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To: tobyhill
While the federal government is dumping hundreds of billions of dollars down every hole it can find adding a few dollars to the old folks budget bothers me not the least.

I'd rather my tax dollars help support some SS recipient here than fill the bank accounts of terrorists in the Middle East.

16 posted on 10/14/2012 7:40:51 AM PDT by count-your-change (You don't have to be brilliant, not being stupid is enough.)
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To: varon
did the condition of the system improve? Didn't think so.............

Oh, I see how it's supposed to work now. Get WHAT you can WHILE you can and to hell with everybody else.

Thanks, I now change my opinion to, "GIMME ME MORE MONEY!!!"

Again, thanks for setting me straight.

17 posted on 10/14/2012 7:50:44 AM PDT by Roccus
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To: tobyhill
Social Security increase for 2013 could be lowest since 1975 (Obama's policies at work)

I woke up late this morning and I blame Obama for that too.

Seriously, unless changed by Congress the COLA is automatic based on the change in the July-September average CPI from the previous year's 3rd quarter. It went up 6% in January 2009 because of the spike in gasoline and natural gas prices the previous summer. Then once that spike went down there was a decrease in CPI for the 3rd quarter 2009 so no COLA in 2010. The CPI in 3rd quarter of 2010 went up, but not to 2008 levels so no COLA in 2011 either.

You can argue with whether the CPI accurately measures inflation, but Obama has no direct effect on the SS COLA.

18 posted on 10/14/2012 7:51:16 AM PDT by KarlInOhio (Big Bird is a brood parasite: laid in our nest 43 years ago and we are still feeding him.)
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To: Jim Noble
What is the basis for any increases at all?

To keep people who went on it, after paying in their working lives, 25 years ago from trying to subsist on 1985 monies in a 2012 cost-of-living? Much as it should have never been put in place, the fact is that folks bought into the gov't pogrom and are now stuck with it unless they still have some working years to change venues.

19 posted on 10/14/2012 7:54:05 AM PDT by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: Jim Noble

I’ll buy more ammo with mine!


20 posted on 10/14/2012 8:04:24 AM PDT by SWAMPSNIPER (The Second Amendment, a Matter of Fact, Not a Matter of Opinion)
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To: tobyhill

The first 2 years of the Obama Admin, the Social Security increases were Zero.

Of course, for inflation purposes, the FED discounts groceries and fuel.


21 posted on 10/14/2012 8:06:01 AM PDT by TomGuy
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To: varon

if there is no increase it reduces the growth rate and while this migt not improve the system if keeps it from worsening more that it already has.


22 posted on 10/14/2012 8:13:06 AM PDT by bt-99 ("Get off my Lawn")
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To: varon

if there is no increase it reduces the growth rate and while this migt not improve the system if keeps it from worsening more that it already has.


23 posted on 10/14/2012 8:13:14 AM PDT by bt-99 ("Get off my Lawn")
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To: TomGuy
The first 2 years of the Obama Admin, the Social Security increases were Zero.

Of course, for inflation purposes, the FED discounts groceries and fuel.

The government calculates both the total and the "core" (no food, no fuel) CPI. The total is the one used for the SS COLA, which is the reason it was 6% in January 2009.

If they had calculated the COLA from the 4th quarter CPI instead of the 3rd quarter, the 2008 gas price spike would have passed and the COLA for 2009-2011 would have been about 2% each year rather than 6%/0%/0%.

24 posted on 10/14/2012 8:14:10 AM PDT by KarlInOhio (Big Bird is a brood parasite: laid in our nest 43 years ago and we are still feeding him.)
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To: TomGuy

That’s because the old folks don’t need to drive or eat and fuel costs don’t affect the prices they pay for everything else.


25 posted on 10/14/2012 8:30:08 AM PDT by count-your-change (You don't have to be brilliant, not being stupid is enough.)
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To: kabar

“There was no increase in COLA in 2010 and 2011.”

Exactly. No increase has to be the lowest unless they took money away at one time.


26 posted on 10/14/2012 8:51:19 AM PDT by Parley Baer
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To: Jim Noble

The basis is inflation - but those of us who are retired are fortunate that the price of gasoline, food, and medical care hasn’t gone up under that jerk, Obama... /s


27 posted on 10/14/2012 9:09:42 AM PDT by GOPJ (You only establish a feel for the line by having crossed it. - - Freeper One Name)
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To: Beagle8U

Now that right there is funny!!(Glad you had the sarcasm tag, though...)


28 posted on 10/14/2012 9:58:09 AM PDT by gibsosa
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To: Sacajaweau
We don’t know if Medicare Part B is going to chew this up.

A couple of years back, the "increase" resulted in $5.00 less for the wife, thanks to the Medicare bump.

29 posted on 10/14/2012 10:14:40 AM PDT by Oatka (This is America. Assimilate or evaporate.)
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To: Oatka

I just read that Part B is going up $7 for 2013. If we get 1.5%, half of my COLA will be grabbed.


30 posted on 10/14/2012 11:05:27 AM PDT by Sacajaweau (r)
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To: Perdogg

I know it’s a COLA.

What is the justification for the taxpayers paying more when they are not getting raises?

It’s just plain stealing.


31 posted on 10/14/2012 11:38:58 AM PDT by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: Roccus
Oh, I see how it's supposed to work now. Get WHAT you can WHILE you can and to hell with everybody else.

Thanks, I now change my opinion to, "GIMME ME MORE MONEY!!!" Again, thanks for setting me straight.

No, no, thank you for pointing out my greed, wanting a return of what was taken from me under threat of prosecution, confiscation and incarceration.

I will immediately contact my Representative and Senators, telling them I have seen the light about my evil ways and to introduce legislation to roll back all SS payments to the original amount of $22.40 per month.

32 posted on 10/14/2012 12:26:05 PM PDT by varon
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To: Roccus
Oh, I see how it's supposed to work now. Get WHAT you can WHILE you can and to hell with everybody else.

Thanks, I now change my opinion to, "GIMME ME MORE MONEY!!!" Again, thanks for setting me straight.

No, no, thank you for pointing out my greed, wanting a return of what was taken from me under threat of prosecution, confiscation and incarceration.

I will immediately contact my Representative and Senators, telling them I have seen the light about my evil ways and to introduce legislation to roll back all SS payments to the original amount of $22.40 per month.

33 posted on 10/14/2012 12:30:46 PM PDT by varon
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To: Sacajaweau
We don’t know if Medicare Part B is going to chew this up.

The article says Medicare B is going up around $7/month.

Anybody on this thread getting Social Security who's costs have gone up less than 1.5% this past year?

{{ crickets }}

Me neither. Hell, my grocery bill has gone up around 3-4% at least. Gasoline on 10/23/2011, $3.099, now, $3.479.

1.5% my ass! I'm not complaining; I just wish the government would be fair.

34 posted on 10/14/2012 12:41:28 PM PDT by upchuck (I miss my dog Snoopy. May 16, 1997-September 24, 2012 -- 15 years, 4 months. Forever in my heart.)
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To: varon

I totally support giving you back every dime you’ve paid in.

But, as you know, you’re asking for much more than that.


35 posted on 10/14/2012 12:54:41 PM PDT by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: upchuck
The two years without an increase was devastating. Since COLA is a percentage of what you are getting already...2 years without an increase amounts to an actual loss.

There isn't one damn teacher who hasn't had a raise each and every year.

36 posted on 10/14/2012 1:20:26 PM PDT by Sacajaweau (r)
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To: Sacajaweau

“There isn’t one damn teacher who hasn’t had a raise each and every year.”

Right. That’s a problem, too.

The taxpayers aren’t making more and more, compounded. There is no legitimate theory of justice that says if you are sucking your income out of my paycheck, that you should be getting automatic raises when I don’t.

That’s not fair and its not right.


37 posted on 10/14/2012 1:26:42 PM PDT by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: varon

I don’t know how far you’re in but at only six years, I’ve already passed MY contribution and am closing in on that of my employers too.

Let’s face it FRiend, it’s gonna take some pain from EVERYBODY to get this mess straightened out and a NIMBY attitude is just NOT gonna help at all.

When my nation called, I served. When my county wanted my time for jury duty, I served their also. When I was required to pay taxes, I did. When I was called upon to vote, even though the choices were almost always dismal, I did my duty. We are all in this mess together and the sooner we ALL realize that we are going to have to each do our part and take a bit of a hit to get out of this, the better.


38 posted on 10/14/2012 5:35:49 PM PDT by Roccus
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