” Hints at lowering COLA for SS and pensions”
Might as well not pay the cost of living at all. Just received a notice from SS that COLA will go up 1.7%. Big whup! Meanwhile, my Medicare supplement premium is going up 15%.
In order to "give" away "FREE" health care for all of Obama's do-nothings, everyone's health care premiums are going up.
My sister-in-law is a big atheist liberal, who was shocked that her own health care coverage was skyrocketing. Amazing.
My TRICARE premiums are up more than 15%, and will probably quadruple in the next five years.
No, COLA is a big deal and one that will cause lots of heartburn for the Reps. No doubt the COLA will be set at some graduated scale affecting those with higher pensions more. It will cause a compression of SS benefits over time.
As someone who has a high federal pension and a small SS penison and been retired for 14 years, this will have a major impact on me depending on what is decided. Over the past 14 years I have seen my federal pension go from 81K to 110K due to COLA increases. And the 1.7% increase that came into effect on Dec 1 and will be in my January payment will add $1,870 a year to my annual pension and $156 to my monthly payment. It will more than cover my increase costs for Medicare Part B.
The Reps are going to be blamed for this reduction in benefits and the Dems will vote against it in the House making the Reps own it. In the Senate, those Dems running for reelection in 2014 will vote against it.
If this is the deal, the Dems will regain the House in 2014. How dumb can the Reps be?
1.7% COLA. That is a crime!! Doesn’t even come close to covering increases in the cost of food. Let alone everything else.
I informally track what I spend at the grocery store. 2012 is not over but it looks like my cost of food will be up around 14% for 2012.
My Medcare C supplement went up 16% and Med D is up 20% plus they raised the deductible again.
IMHO, if they want to “cut” Social Security and Medicare they should raise eligibility age.
They want instead to cut the COLA? Sure, go ahead. How much of the generous 1.7% are they gonna cut? Even if they eliminated it completely it wouldn’t amount to a hill of beans compared to the trouble we’ve got.