bttt... wonder how these new stats will compare with Shadow Statistics?
BTTT
I wonder if this is one of those justification pograms to tax the filthy rich folks?
Cost of living increases will magically re-appear in a democrat led bill that is voted on during the 2010 election campaigns.
i guess these clowns want to starve Granny & Gramps , put them on the street and THEN pull the plug. Seems they have a plan
This has already been debunked by Cato among others..
If they pass their “health care” bill, how long before they freeze funding for that, too? Sorry, little Billy, your broken leg will just have to heal on its own...
it occurs to me that COLA freeze could easily also affect VA Disability pensions which are based upon degree/% of disability
Can you imagine the reaction of the Left if this had happened under George Bush. They went crazy when an attempt was made to reduce the rate of rise in payments to seniors, not even an actual cut in their income.
Meanwhile the AARP continues to suck up to the facist-in-chief.
Will all government employees forego COLA increases, including Congress? How about a pay cut or layoffs? /sarc
the headline is inaccurate.
There is no adjustment unless there is a rise in cost of living. When the numbers are run according to the formula, no adjustment upward is required. There can be no negative adjustment.
An increase is not canceled because there never was one for the period in question.
How come we never here that WELFARE is running out of money???
From National Review:
A Pointless Lament About COLA
The COLA is determined each year by the Social Security Administration based on observed inflation over the previous year. For example, the COLA applicable to Social Security benefits payable in January 2009 was 5.8 percent, calculated on the basis of inflation observed between 2007 and 2008.
This year, however, incoming data suggest that inflation will average about negative 5 percent. Because nominal benefit amounts will remain unchanged, retirees will experience a 5 percent increase in the purchasing power of their Social Security checks. This is expected to happen next year, too, given forecasts of continued economic sluggishness.
The complaint that seniors’ living costs are rising because they spend so much more on out-of-pocket health-care costs and premiums also rings untrue. What’s the story here? Medicare Parts A, B, and D require enrollees to pay premiums to finance a minor part of the government’s total expenditure on those benefits. According to the Centers for Medicare and Medicaid Services (CMS), the Medicare Part A premium will increase by 4.3 percent — in line with increases in the costs of inpatient hospital, skilled nursing, and other services covered under Part A. However, 99 percent of seniors do not pay Medicare Part A premiums because they are “fully insured” under Social Security.
The premium for Medicare Part B was not increased in 2009 and probably won’t increase next year despite positive health-care inflation in 2008. According to the Bureau of Labor Statistics, medical-care prices rose by 3.2 percent over the past 12 months. However, Part B’s 2009 premium was not increased because the Supplementary Medicare Insurance (SMI) trust fund presently has a “more-than-adequate” reserve. This means that, for the same premium on Medicare Part B this year and next, seniors will receive medical benefits of larger value compared with non-medical goods and services.
According to the CMS, Medicare Part D premiums will increase only slightly (by $2, on average) in 2009. However, the CMS notifies beneficiaries about how they can avoid paying more by shifting to alternative plans that provide the same or similar coverage at more competitive rates. Thus, the average cost increase per Part D beneficiary should turn out to be much smaller.
They didn't cancel the adjustments, the formula they base the adjustment on is just zero.
Or, they could have cut spending.
Trust me, I KNOW she heard me. The look on her face and the silence was golden. I have a pretty good sense of discernment... and let me tell you, I think this lady was an Obama supporter and has now re thunk her position.