Skip to comments.Social Security checks get measly $3.92 bump in 2017
Posted on 10/19/2016 11:09:59 AM PDT by MaxistheBest
The typical retiree's monthly Social Security check will get only $3.92 bigger next year.
That amounts to an increase of just 0.3% -- the smallest ever put in place to help cover higher prices.
That's still an improvement from this year, when the lack of inflation kept benefits from increasing at all. The average retiree's monthly benefit is currently $1,305.30.
"Over the last five years, Social Security COLA's have remained small or nonexistent," said AARP. "Every cent can matter to beneficiaries and their families. After last year's zero COLA, this year's announcement doesn't offer much help to the millions of families who depend on their Social Security benefits."
Retirees also spend a bigger proportion of their money on health care, for which prices have risen faster than overall inflation.
"As prescription prices skyrocket and Medicare premiums and other health costs increase, many older Americans have understandable concerns," said AARP.
At the same time, retirees are hurt by low interest rates because many depend on savings to cover at least part of their living expenses.
(Excerpt) Read more at money.cnn.com ...
They have to pay social security to all the new refugees and illegals. Funny how that promise to citizens that have paid into the system suddenly just transformed.
F’n AARP pushed ObamaCare
If the current administration and Dept of Labor don't include the cost of food in their calculations, inflation must be low....Now, about that recovery BS they are spreading...
Are we better off financially and safer after 8 years of Obama?
Obama 2 will start next January if Illiarily is elected.
Hey, as long as you don’t have to buy food you’re all set! Inflation is just fine! Said nobody ever.
Fed.gov is $20 Trillion in debt, and rising fast. And that’s just direct liabilities. Add Soc. Sec, pensions, Medicare and we are talking anywhere from $60-$140 Trillion.
It will NOT be paid off. There is no humanly way to do so. Nor will any government agency, department, social-justice warrior, or crony-capitalist every agree to Uncle Sam giving them less money.
SO the process will be to:
1) increase taxes as much as possible
2) steal from workers and savers as much as possible through inflation and zero interest rates
3) Make sure the vote-buying entitlements are steadily but stealthily made worth less and less.
4) Add ever-more debt
5) fight like hell overseas to be sure the US Dollar remains the world’s reserve currency
Complaining about the amount received by the SSA is idiotic when contrasted with the millions of Americans who can't find even a DECENT job and who DON'T qualify for Social Security compensation.
Most people on SS get paid far more over the span of their retired lives than they EVER put into it.. Complaining about how "measly" it is is UNFOUNDED and outright GREEEEEEDY!
They did massively raise the Social Security contributions people will be paying in, though.
McDonald’s introduces the $3.92 not-so-happy meal. Alpo announces free delivery of canned goods to seniors.
If Trump promised to recalculate the inflation indexes that Social Security increases are based on, and to pay retoactive adjustments for the amount the indexes were understated, he’d make a major hit in the democrat’s base.
This would just be honoring the current law and commitment that was made. It wouldn’t be a new entitlement.
(Anti-)Amercian Association of Rapacious Pillagers
CNN with free advertising for the biggest vultures in the rent-seeking universe, it’s a professional courtesy.
A big fat two Twenty dollar bills for our seniors to spend for all their essentials.
Across the whole freakin' year of 2017!
Thanks a big bunch, Obama.
You're a total loser.
A drop in oil and gas prices has kept overall inflation in check in recent years. The benefits freeze in 2016 was the third time this decade that there has been no increase in benefits. The other years were 2010 and 2011.
The price of gasoline dropped last month, which is when I think they calculate the CPI-W. It's been consistently lower in 2016, compared to 2015. But, the price drop was smaller than from 2014 to 2015.
You can plot the USA average gas price here, for the time period you want:
aarp? Pffffttttt! NEVER them. The YUGE increase will be offset by the part B rise. No net gain. For a gallon of gas worth of money.
I wonder if the Congressional COLA are better than 3 bucks this year?
Gasoline costs are about the same as last year. However things such as food and rent are up. I don’t how the overall cost of living has not gone up.
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