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Social Security Cost of Living?

Discussion in 'Politics, Elections & Legislation' started by Sgt. Mike, Aug 23, 2009.

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  1. Sgt. Mike

    Sgt. Mike TS Member

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    Check outhttp://www.foxnews.com/politics/2009/08/23/social-security-payments-shrink-time-generation/?test=latestnews

    If this is true we will see how President Obama is going to pay back the trillions of dollars in money for the bailout and for HIS health care program. Social Security is not broke the government figures out how much it will pay out and writes an IOU and takes the rest.

    No cost of living increase is a "tax" for those who did not support HIS health care program. Can this really be true? Michael
     
  2. bigdogtx

    bigdogtx Well-Known Member

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    Mike, with the recession, inflation is non-existant and therefore no inflation increase. Now does that mean that an increase is not needed,,,,no. When they pull food, energy and housing from the inflation numbers, the number is skewed.
     
  3. GBatch_25

    GBatch_25 Active Member

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    You may interpret it however you wish, but existing law is that the COLA is tied to the rate of inflation. And, simply put, there is insufficient inflation as of the date on which the COLA is calculated. It has nothing to do with Obama or Congress. It's existing law. If seniors don't like it, they could vote for new Congressmen and Senators who could change the law.

    Gene Batchelar
    Wheaton, IL
     
  4. Milkbone

    Milkbone TS Member

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    Not only that, but there has actually been negative inflation of around 2%. Fortunately, the law doesn't allow the government to reduce SS payments, so government annuitants should be happy. Most won't be though and will think it's a conspiracy.
     
  5. JLSO5

    JLSO5 Member

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    The problem is the part B and the perscription part which comes out of your check is going up so your total check will be less not the same.
     
  6. bigdogtx

    bigdogtx Well-Known Member

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    JLSO5,,,,this can't be as there is no tax increase on the "middle class"....
     
  7. cubancigar2000

    cubancigar2000 Well-Known Member

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    What I read is that our SS will go down. They are going to decrese what I get
     
  8. GBatch_25

    GBatch_25 Active Member

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    Are you telling me that the Democrats are CUTTING" Social Security benefits? I say cutting, because that's what they accused the Republicans of doing a few years ago, except it was Medicare benefits. Remember? The Republican Congress was trying to slow the rate of growth of Medicare by 1-2% and the Dems called that a "CUT". So, it seems only fair that this be called a cut in benefits, even though no one is actually changing the benefit amounts, merely allowing the economic forulas that Democrats enacted to be applied. Ironic, eh?

    Gene Batchelar
    Wheaton, L
     
  9. cubancigar2000

    cubancigar2000 Well-Known Member

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    It was on CNN that ss benefits will decrease this year and possibly next due to the cost of living index.
     
  10. Urbans

    Urbans Member

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    EE, SS may be a Socialist welfare program, but what about the $'s we paid in, is that just for Congress to piss away, or can we write it off as a loss? Thanks Ed Freise.
     
  11. claybrdr

    claybrdr Well-Known Member

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    That's change you can believe in.
     
  12. Texas Yankee

    Texas Yankee Member

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    I have not seen or gotten any information on Veteran's benifits. In the past the Vets got the same increase as SS so with no SS cost of living raise for two years I guess us Vets are SOL to.
     
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