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?
We both know that.
Over the past 14 years I have seen my federal pension go from 81K to 110K due to COLA increases.
You must have qualified for the older system.
just love it when people flaunt how much money they get.....
your situation is EXACTLY why this entire govt and nation is bankrupt...