In 1923 Germany, inflation was 29,500%. Well, at least inflation today in the U.S. isn't that high ............. yet.
Thanks, Democrat Party Cabal, for stealing the election and wastefully spending our tax money like it's water ...
Posted on 10/01/2021 11:21:53 AM PDT by Red Badger
The annual Cost of Living Adjustment (COLA) could increase by 6% in fiscal year 2022. This means that many retired and disabled veterans could receive a bump in pay by at least a hundred dollars per month.
What is COLA? The COLA adjustment is determined based on inflation and is authorized to preserve the purchasing power of our nation’s veterans and those receiving Social Security.
According to KWTX of Temple, Texas, this COLA increase would be the largest pay raise since 1983.
RELATED: Military Benefits Changes in 2021
What is Inflation? According to Forbes, the economic phenomenon called Inflation “describes the gradual rise in prices and slow decline in purchasing power of your dollars over time.”
Additionally, inflation is not limited to a price increase in one sector, say at the gas pump for example. Rather, inflation entails a broad increase in prices across an entire industry that impacts the country’s economy.
The Devil in the Details While a 6% increase sounds great, remember that it is a response to an expected rise in the rate of inflation. If economists and those involved with the COLA increase perceive that inflation will jump, then so will COLA.
The Consumer Price Index (CPI), published each year by the Department of Labor, determines any COLA increase. The CPI compares the costs of certain goods or services today to the same goods and services of previous years. If the cost today is higher than it was before, that usually leads to a COLA increase.
Timeline for COLA Increase The COLA increase for 2022 will likely be announced at the start of the next fiscal year, which is 1 October 2021. Once they release that information, we will report it on the My Military Benefits website.
As taxes go up 10% (fuel, electric, etc).
yeah too bad inflation has gone up 30%.
But anything is better then nothing
Joe and Nancy and Chuck sit around every day thinking up new ways to help the people they love and admire, America’s Veterans.
Many of us won’t see adjustments that high
Whatever our American citizen disabled veterans get able bodied lazy and entitled illegal aliens get a whole lot more ...
This is really just speculation at this point.................
This is really just speculation at this point............
For how long. The announcement according to article is today. LOL
Sorry, did not mean to be conformational. You’re right it is speculation, but dozens and dozens of articles are reporting this amount or a little over. Likely the amount has been intentionally leaked as a trail ballon.
I don’t know if they have had time to update the info at the website yet........
This is great. I paid about 20% more for groceries this morning.
But what about the chocolate ration?
It was increased to 20g, Winston.............
That’s great to get a 6% increase, but my Kombucha went up 9%, so I’m still losing ground.
Could? That’s like one of my mom’s maybes.
Don’t take this as a snide remark. Your little typo is a brilliant gem of irony.
You wrote “trail balloon.” As opposed to lead balloon, I would imagine.
Ha, meant trial (testing how the public responds). Half of the way the government communications is through leaks in the press ahead of time for polling and decision making.
If a trial balloon is a lead balloon they don’t go forward.
As much as any of us may appreciate the COLA for 2022 in our own Social Security, personally, it will put Social Security funding closer to insanity sooner.
Most people will lose it all to Medicare Part B.
In 1923 Germany, inflation was 29,500%. Well, at least inflation today in the U.S. isn't that high ............. yet.
Thanks, Democrat Party Cabal, for stealing the election and wastefully spending our tax money like it's water ...
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