Posted on 08/21/2009 6:07:46 AM PDT by jmaroneps37
This is another important story being smothered by the Democrat controlled media.
The Obama administration has quietly announced there will be no raise in social security payments next year and maybe not until 2012, a presidential election year.
Citing a 2008 third quarter cost of living decline, Congress has voted no cost of living increase in next year’s Social Security checks for the first time since 1973.
The Democrats are pointing to their own prediction of a “… [steady] decline in consumer prices through the first three quarters of this year…” Based on this they claim to foresee no need for raises until possibly 1212.
Democrats ignore Consumer Price Index: hide behind flat Inflation
Obama’s base will suffer the most. While 80% of our big cities voted for Obama it’s apparent the elderly, both White and minority, will be asked to “balance the budget” by themselves. There might not be any inflation but the Consumer Price Index (CPI) has risen steadily since January, and people are living by the CPI not the rate of inflation.
Numbers show ignoring the CPI will crush elderly and minorities
Using Gastonia North Carolina as a baseline for CPI, here are some comparisons with other centers where the population is White Black Hispanic elderly and overwhelmingly Obama supporters.
In each of these Urban centers Obama got more than 80% of the vote but:
Those living in New York City need 55% more to live than those in Gastonia.
In Detroit they need 12% more; in Cleveland they need 10% more; Bostonians 25% more
Chicagoans 10.7% more and Oakland Californians need 43% more than those in Gastonia
The poor in these cities receive standard payments the same as everywhere else. The combination of no raise and a rising CPI will actually kill some of them
(Excerpt) Read more at collinsreport.net ...
To all the old a$$holes that keep voting Democrat because of Roosevelt and Kennedy, UP YOURS!!!
No healthcare and now no food! Enjoy!!!
I wonder when we’ll be treated to the images of seniors being forced to eat dog food because of Social Security “cuts”?
You mean that 67% of NON - HS grads, 18 to 39, who voted him in ????
Your parents were not screwed. They just did not get the extra money Congress inadvertantly allocated to others before the mistake was corrected. For Congress to fix the problem, the error would have to be perpetuated.
You should talk to your parents and tell them the truth. The truth is that your parents and my parents are on the front end of an intergenerational Ponzi scheme. Your parents paid relatively little in Social Security taxes unless they worked long after retirement age. They have drawn far more from Social Security than they put in even considering the time value of money.
Our situation is just opposite. Our payroll taxes were substantially increased in the mid 1980s. Congress spent all excess payroll taxes so there are no assets to support our retirement. Even if the money had been saved, our return on Social Security taxes would be paltry. Social Security is an income transfer program providing relatively high benefits to the low wage worker and much less to the higher wage worker.
but but but....
Congressman Andre Carson (Muslim, IN) told us in his campaign tv ads he was going to make Social Security “safe for seniors”
Yet the confiscatory tax keeps going up and up - on everybody; not just the “rich”. BTW, how much does Congress pay into SS? Inquiring minds want to know.
they needed the money to give Brazil for oil exploration
I was in the Walmart Superstore last week and I noticed that many canned goods had price increases from 30% to 60% since my previous visit early last month.
One item of note jumped from $1.10 to $1.45. Other store brands jumped from $0.55 to $0.87.
Carter II Hyperinflation could be rearing its ugly head.
Besides the fact that by 2012 the pan is to have many of these retirees in the ground. Take away their retirement money that buys food. STARVE them to death. Well this is less obvious than setting up Nazi style hospitals to starve them to death.
WHY IS EVERYONE SO SHOCK BRIAN WILLIAMS LET THIS SLIP ON A NEWSCAST 2 MONTHS AGO. I POSTED IT, IN A COMMENT, BUT NO ONE PAID ANY ATTENTION. HELLLOOOO
Because we greedy old folks want to get as much of the lazy young folks money before the lazy young folks all go on the government dole! That’s why! ;-)
And I am reminded that O promised Bermuda they wouldn’t tamper with their insurance companies and banks in exchange for taking the Ouiggers.
Guess that’s why bubba and bubbette are in Bermuda.
Checking on their money.
I’ve noticed the same thing. The prices have risen on just about everything I buy there, and expect that the recent increases (last 6 months or so) will continue. This is only the beginning.
This is one granny who has been surprised every year when we got the COLA. I never have thought we should be getting those. Seems like a waste of money. I have always believed that retirement funds should come out of your income while you are able to work and that it be mandatory and held in a private account that you can only access at age 65 or whenever you stop working. The government should also not be able to touch it. We should only get back what we save in. Fortunately, I am still working at age 75 and plan on keeping working as long as I’m able. Now I’ve gotta go to work.
Does this help you understand HOW the Retirees will be affected. The value of money DECREASES but PRICES doe not.
“When the volume of money and credit rises relative to the volume of goods available – which is the definition of inflation – the relative value of each unit of money falls. This makes prices for goods generally rise. When the volume of money and credit falls relative to the volume of goods available – which is also the deflation definition – the relative value of each unit of money rises, making prices of goods generally fall. Though many people find this concept difficult, the proper way to understand these changes is that it’s the value of units of money, which rise and fall, not the value of goods.”
.........................
“the proper way to understand these changes is that it’s the value of units of money, which rise and fall, not the value of goods.”
http://www.elliottwave.com/deflation/
At some point the Senior Citizens will have to grow up and stop demanding more, more, more. That will probably be when we are totally broke.
last year there was a 7 percent raise in SS checks,,I was astounded. I think the program has some kind of dependence on something, some index, for raises and it is determined by law. Seems to me if the regs say no increase, there is no increase.
But the payments for medicare are going up,,determined on income. And one if one works and gets more income, the SS check reflects that.
So seniors better works,,hahahha,,I am in that boat and hubby is working.
I do think SS checks have gotten out of whack.
Yep...my Mother was born in 1917...she was always po’d about the notch baby thing. But considering she went through....depression, WWII, Korea, Vietnam,Clinton Admin etc, AND worked from the age of 12 until she was 76, I would be po too. At least she doesn’t have to go through the total destruction of the Constitution. Miss you Mom
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