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 ...
But you can bet on Medicare taking more from your social security check in 2010.
Many, many seniors are one issue voters—that issue being their Government benefits (SS, medicare, etc). You can bet all hell will break loose when they don’t see their checks increase in Jan. Personally, I don’t have much sympathy for them—at some point we will have to tell them NO!
I’m confused. If we’re in a deflationary period, why should people expect a COLA hike in Social Security?
This is EXACTLY what I predicted years ago - the government would start having COLAs fail to keep pace with the rate of inflation. It amounts to reverse compounding.
Since Social Security is underfunded, the Fedgov will use an unholy trinity to bring it in-line with receipts - understate the action rate of inflation, have COLAs fail to keep up with even that artificially-low inflation rate, and then will monetize fedgov debt, which will further fuel inflation.
No food,No health care,your on your own Granny!
This is just a first step.
It’s fun to trash the Baraqqis here, but the reality is that almost all of the Wash DC crowd are guilty in the Social Sec scam.
The numbers don’t work folks, no matter what you read in the AARP magazine.........
I thought zero’s base was the union crowd with the minimum wage issue, not the SS issue.
True but obammy wants to turn old folks in to soilent green.
No increase in SS, but Congress gets a raise. How quaint.
If the Republican party were to do this, the Dems would all shoud, “cuts, cuts.” Little, if any, media coverage on this at all.....
My parents are both notch babies (born between 1917 and 1923), both screwed by the last SS change and correction by Jimmy Carter.
They’re still waiting for congress to fix the problem. Congress is waiting for them to die.
WASHINGTON, Jan. 10 /PRNewswire-USNewswire/ — Members of Congress have
awarded themselves a 17 percent higher Cost of Living Adjustment (COLA) than
the nation’s 48 million elderly beneficiaries will receive in 2008.
obammy wants to turn old folks in to soilent green.
Yep...if this don't get you the death panel will...
Can’t wait to see AARP’s position on this. They can explain to their members why its good the Dems are screwing them out of their COLA. And all this time, the Conservatives were supposed to be the boogeymen....
Granted, but with that logic why should the congress get a automatic COLA increase?
How about the automatic COLA for congress, will it go on thru? Bet it does.
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