WHEN AMERICA IS NOT AMERICA ANY MORE ..............................
Posted on 10/07/2010 6:46:04 AM PDT by GailA
NEW YORK (CNNMoney.com) -- Chances are high that for the second year in a row Social Security beneficiaries will see no increase in their benefit checks.
The official word won't come until mid-October when the Social Security Administration announces whether there will be a cost-of-living adjustment (COLA) for 2011. But those who've crunched the numbers say there just hasn't been enough inflation to justify a bump in benefits.
The last time there was an inflation adjustment was in 2009: Social Security beneficiaries got a higher-than-normal 5.8% increase because of a temporary spike in energy prices in the third quarter of 2008.
Soon after, however, energy prices plummeted. Then the bottom fell out of the economy and by the third quarter of 2009 overall price levels had fallen 2.1% from the same period a year earlier. That meant no increase in 2010 Social Security benefit checks.
This year, there has been some inflation, but prices still are lower than they were in the third quarter of 2008 -- and that's the quarter that counts
(Excerpt) Read more at money.cnn.com ...
Social Security: no COLA in 2011
Social Security benefits won’t include a cost-of-living increase for the second year in a row.
http://www.csmonitor.com/Business/Donald-Marron/2010/0920/Social-Security-no-COLA-in-2011
It looks like 2011 will be another year without a cost-of-living adjustment (COLA) for Social Security recipients. Why? Because consumer prices haven’t yet returned to the peak they reached in the third quarter of 2008, when the 2009 COLA was set.
Democrats throwing granny in the wheel chair down the stairs again.
I am sure they will send out those “bonus” checks again, the recipients are still talking about the last time like it was Christmas.
I had heard last year that there would not be any COLAs for the next 2 years because of lack of inflation. I marvelled at how this administration could accurately predict the inflation rates for the future!
These guys obviously haven’t been to a grocery store in a few years.
This is what they call "Windmark Treatment"
Actually a reduction in social security because medicare payments will increase again.
Arrrggggggggghh! His name was WIDMARK!!!
the less they are able to distribute additional Pie, the better for our side
Paging Helicopter Ben Bernanke, please pick up the courtesy phone.
Come on guys. Brian Williams in a oh no (I let it slip) momentm in May 2009, I believe,said on the evening news that there would be NO Cola increases for two years. HOW did he know?
Didn’t Congress give themselves a pay raise that goes into effect next year?
There's a bit of bright news for high-income earners still working for the Man: If there is no COLA for 2011, that also means there would be no increase in the amount of earnings subject to the Social Security tax, which is currently assessed on the first $106,800 of a person's wages.
Yeh. Good thing evil, evil Boosh didn’t privatize SS when he had the chance.
I’m 44, and on the muddy end of the stick as far as ever getting anything out of SS.
Inflation is computed based on an average of the cost of all things. So if you take a look at some of the things that go into that average:
Luxury yachts - down a huge amount
Private Jets - dropping like a rock
Mansions and “executive” homes - down well over 40%
The entire average works out pretty flat.
(I've advised mom to tighten her belt a bit and see if she can stretch her $837 a month check to take advantage of the current low prices for luxury yachts.)
http://www.parade.com/news/intelligence-report/archive/who-gets-us-foreign-aid.html
fedzilla has other priorities
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