To: csmusaret
Colas are supposed to be determined each year in October and go into effect the following January. Does this administration have the authority to suspend the law? As I understand it, forecasts by the Obama administration and the Congressional Budget Office indicate that Social Security beneficiaries will not receive any cost-of-living increase in 2010 or in 2011.
I don't believe any laws were changed or suspended.
5 posted on
08/24/2009 7:01:15 PM PDT by
Doe Eyes
To: Doe Eyes
As I understand it, forecasts by the Obama administration and the Congressional Budget Office indicate that Social Security beneficiaries will not receive any cost-of-living increase in 2010 or in 2011...The COLA for the following year is usually announced in October based on inflation for the current year - thus since inflation is essentially zero for this year, next year's COLA will be zero -but how Obama and his henchmen can announce the 2011 COLA which should be based on next year's inflation rate - which we don't yet know and in fact could be high based on their own hopes of how the economy will pick up - is mystifying - maybe they really do believe that they're so superior they've now taken to predicting the future......
To: Doe Eyes
As I understand it, it is not up to them. The determination is supposed to be made based upon actual inflation figures not on someones prediction of what CPI will be.
7 posted on
08/24/2009 7:26:40 PM PDT by
csmusaret
(If you like this economy, keep voting for Donkeys.)
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