Yo Seniors, this “Change you can believe in” you voted for in 2008?
The Social Security Act specifies a formula for determining each COLA. In general, a COLA is equal to the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of one year to the third quarter of the next. If there is no increase, there is no COLA.
I do think it is great that most people will still blame it on Obama.