Social Security Takes Another Hit

[redhen]

http://www.comcast.net/articles/finance/20101010/US.Social.Security.No.COLA/

 

[PineappleMama]

And at the same time MediCare payments are the same or higher...

But they didn't hesitate to make sure that they, the ones passing that no COL adjustment for SS, got THEIR raise.

One more thing to check for for the November ballot... which voted for this...

 

[redhen]

There wont be any SS for us when were old enough to qualify..
And i've been paying into it for so many years... its so unfair!

 

[greyhorsewoman]

As per the link provided:

The cost-of-living adjustments, or COLAs, are automatically set each year by an inflation measure that was adopted by Congress back in the 1970s. Based on inflation so far this year, the trustees who oversee Social Security project there will be no COLA for 2011.

This is not something the current government recently passed ... in fact:

Social Security recipients got a one-time bonus payment of $250 in the spring of 2009 as part of the government's massive economic recovery package. President Barack Obama lobbied for another one last fall when it became clear seniors wouldn't get an increase in monthly benefit payments in 2010.​

 

[dawg53]

Quote:
x 2

 

[Mac in Wisco]

The same goes for military pension increases which are based on inflation. We didn't get a COLA this year and probably won;t next year.


Quote:
I doubt that. Will the SS system be broke? Yes. Will the government reneg on payments? No. It will just become another part of the federal deficit.

 

[dawg53]

Quote:
I doubt that. Will the SS system be broke? Yes. Will the government reneg on payments? No. It will just become another part of the federal deficit.

You are absolutely correct mac in abilene...watch them slam us on Tricare too, I gotta bad feeling about that. Even TFL isnt safe.

 

[noodleroo]

Quote:
x 2

X3

 

[arabianequine]

article says not democratics fault but the no increase did not start till they were in office

 

[PineappleMama]

Quote:
This is not something the current government recently passed ... in fact:

Social Security recipients got a one-time bonus payment of $250 in the spring of 2009 as part of the government's massive economic recovery package. President Barack Obama lobbied for another one last fall when it became clear seniors wouldn't get an increase in monthly benefit payments in 2010.
​

The COL was originally passed in 70's... but in 2010 and now 2011 THIS Congress has totally overridden it.

The COL was given, as legally required, in 2009. They got that little 250 check to help bridge the gap between what they were going to be getting in 2010 and what they were supposed to be getting... Congress/Prez KNEW this would hurt them majorly... they passed it anyways and then, when voters got peeved they threw them a bone... but in the end when you're poda get 1000, need it for rent, food, your meds... and you only get 250... well, you're pretty well screwed.

But hey, you ELECTED officials... be sure and give yourself a raise AND a nice pat on the back for thinking of the seniors.

And it's these same people, SO concerned about the well being of the citizens that elected them, that authored our new health plan... I donno about you guys, but that scares the crap out of me.