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 ...
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.
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.
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.
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%.
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.
“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.
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
Now that right there is funny!!(Glad you had the sarcasm tag, though...)
A couple of years back, the "increase" resulted in $5.00 less for the wife, thanks to the Medicare bump.
I just read that Part B is going up $7 for 2013. If we get 1.5%, half of my COLA will be grabbed.
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.
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.
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.
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.
I totally support giving you back every dime you’ve paid in.
But, as you know, you’re asking for much more than that.
There isn't one damn teacher who hasn't had a raise each and every year.
“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.
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.
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