Social Security cancels COLAs (Fixed income on which seniors rely on frozen at current levels)

Hotair ^ | 8/25/2009 | Ed Morrissey

[bIlluminati]

No COLA

Prices are up but my check has gone down
Obama is smiling while I wear a frown
‘cause no COLA, no no no no COLA

Counseling every five years unless I get sick
then they'll DNR me, and I'll die real quick
like EBOLA, E-BO-L-A, and still there's no COLA

Well, I don't understand what the showers are for
‘cept to stop global warming, so says Albert Gore
still no COLA, no no no no COLA

I pushed him away, I walked to the door
I fell to the floor, I went down on my knees
and begged and said please

Lies will be truth and truth will be lies
and reform will be death camps wrapped up in disguise
still no COLA, no no no no COLA
no no no no COLA

[MissDairyGoodnessVT]

Thank You businessprofessor! Everyone should be aware of these facts.

[RipSawyer]

I utterly despise Obama and the jackass he rode in on but this is one thing that is not to be blamed on him. The simple facts are that gasoline is much lower than it was at this time last year so according to the formula living costs have fallen since last year, that is why there is no increase in social security. Predictions of no increase next year are based on expectations that living costs will not rise due to a failing economy.

I am a Social Security recipient and I trust a rattlesnake far more than I do Obama but really he had nothing to do with this.

[Lucius Cornelius Sulla]

I see that it is expected that Part B premiums will not go up this year, and, while Part A premiums will go up, hardly anyone pays them. So you are correct, SSA net benefits will not be changed next year. I am pleased, since I am one of those collecting them..

[bert]

.......And what is cost of living based on ? Inflation right ?.....

No, it is based on a formula that was developed to make the calculation. The formula produced a value that is < 0. It indicates deflation in excess of inflation

It is a legislated calculation

[SeekAndFind]

It is a legislated calculation

Surely inflation has to be part of the calculation.

[SeekAndFind]

Predictions of no increase next year are based on expectations that living costs will not rise due to a failing economy.

In other words, they are ignoring warning like this :

http://www.freerepublic.com/focus/f-bloggers/2324481/posts

and this :

http://www.freerepublic.com/focus/f-news/2315853/posts

[JPJones]

Will all government employees forego COLA increases, including Congress?

They should all be getting anti-colas.

[Anti-Hillary]

Yeah, well the uninformed masses won’t care. They will blame this on Barry and i couldn’t be happier as far as that is concerned.

[RipSawyer]

Well of course they are ignoring the warnings, they are Democrats. In any event they won’t give us another increase until the cost of living goes up enough that their little formula says we should get one. Right now their formula says we should get a cut but they aren’t allowed to do a cut. They will probably try to change the law next so that they can do a cut.

[RipSawyer]

You’re probably right about the uninformed masses but I would prefer we don’t blame him for things he DIDN’T do, it only makes us look bad and there are plenty of things to blame him for without inventing any.

[CPT Clay]

Boy are they gonna be pissed.

[FormerACLUmember]

It is beginning to dawn to the elderly that Obama plans to really, really screw them. (Nothing personal... we are all screwed)

However, wait until they begin to realize that Obama care depends on massive cuts in Medicare!!

[Sun]

So where is AARP?