Posted on 10/11/2015 3:34:22 PM PDT by 2ndDivisionVet
WASHINGTON (AP) — For just the third time in 40 years, millions of Social Security recipients, disabled veterans and federal retirees can expect no increase in benefits next year, unwelcome news for more than one-fifth of the nation's population.
They can blame low gas prices.
By law, the annual cost-of-living adjustment, or COLA, is based on a government measure of inflation, which is being dragged down by lower prices at the pump.
The government is scheduled to announce the COLA — or lack of one — on Thursday, when it releases the Consumer Price Index for September. Inflation has been so low this year that economists say there is little chance the September numbers will produce a benefit increase for next year....
(Excerpt) Read more at bigstory.ap.org ...
And when you run the numbers, the lower gas price saves them far more cash than a COLA would have given.
But of course the GOPDNC goes after our own people rather than federal aid to illegals...
The last two lines in the article:
“Lee Marshall of Greenville, California, said the current inflation index isn’t good enough.
“They have a formula that they use that doesn’t reflect the actual cost of living,” said Marshall, 68, a retired laborer and casino dealer. “Just because the price of gas is going down, that doesn’t mean anything.” “
Which of course is pretty much what you should expect if you let the government determine how much of your own money they deign to pay back to you.
for the record.......
there is no need to worry about social security
obesity and diabetes will kill off the population in such numbers that the money allocated will be freed up
Can’t eat gas.
If there were no immigration, perhaps.
This same formula should be applied to pay increases for Congress and the employees of the federal government.
For the “3rd time” all of which happened during Obamas terms.
Typically yes however here in the Peoples Republic of New Jersey - our Politburo is close to hiking the gas tax for infrastructure projects (read that as union paybacks) - using the logic that the price of gas is low and we can afford it.....
Food and fuel do not count in inflation rate.
Unless it is positive.
Any conservative left in that sewer needs to move ASAP.
POS’s will even bitch when we hang them all.
More money for TANF, Section 8, WIC, Obamaphones, government cheese, Planned Parenthood, SNAP, the Muslim Brotherhood, Iran and the chosen NGO’s.
Beef and other foods prices through the roof.Since when is gasoline the only item that affects the cost of living index?
Something about a silk rope...
Long story but too many family ties and businesses to leave however - every time I visit the West Coast of Florida I get closer and closer to consider commuting!
Find a meat locker or other type of butcher if you can. Do you have Aldi’s stores where you live?
NO it is not good news. Good news would be cutting all funding for illegals.
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