I just read us Social Security beneficiaries will NOT be getting any COLA increases for the next 2 years. The Powers That Be decided that infalation is not a problem, so SS payments will stay at the current rate until 2011.
Have you noticed the price of groceries going down? How about medications? Stand up and be counted retirees of America!! Where's AARP when you need them?
I don't know which CPI The Social Security Administration uses. If the cost of housing is part of the formula, then it may be that with all things factored together, there has not been inflation. That may not be the best measure to determine benefits for seniors, but I assume that the particular measure the SSA uses is determined by law. New data is going to be published on June 17th. See if that answers your questions. If you think that the data base that SSA uses is the wrong one, that might have to be addressed by congress and not by the agency. A little research should clear that up too.
I am not yet receiving SSA, so perhaps I shouldn't comment, but in my state, no teachers are receiving a COLA and neither are state employees. Why wouldn't retirees expect to share the pain?
I just read us Social Security beneficiaries will NOT be getting any COLA increases for the next 2 years.
And I just read that there MAY not be a COLA for 2010.
May not and will not are not the same.
AARP magazine ran a short news story on this, but they're obviously not taking any action like organizing its readers to launch a letter-writing campaign to our legislators. And this after Social Security gave a COLA every December since 1975, that's 35 years. But the Post Office raised its prices this year, gas prices are heading up again, I don't know about this "inflation" stuff. I am just plain disappointed. Oh, but Social Security gave every person, but not their dependents, a $250 stimulus payment in May. Did anyone notice?
And the Meducare premium won't be raised for a while.
I guess I am the odd one out. I would give up a lot to get a balanced budget. I think that is the biggest danger this country faces. Our reps just don't do their jobs, most have agendas that are not especially good for the country.
I just discovered that there is a consumer price index just for persons over 62 and that is what is used to determine if there has been any inflation.
Stargazzer, I don't think you are the only person concerned about a balanced budget.
Personally I think that most of the AARP communication is trying to get YOU as a consumer to buy anything and everything they get money from--insurance, credit cards, wheel chairs, meds etc. Yes they do some good, but reading their articles all they seem to care about is showing us elders the way movie/tv stars live, not the average senior on limited income. Many of the seniors here have dropped the medical insurance, because it covers so little, that it hurts them from getting medical coverage they really need.
Their big conventions are always in a big jazzy city, like Palm Springs, Las Vegas etc, where the big shots can show off how they try to help. Their seminars are a joke and what average senior can attend.
Apparently, the CPI used by social security is of their own. It mirrors the cost of living index, but may vary depending on whatever factors they use.
Apparently, the COLA they use is always one year behind. Lets say, at the end of 2009, the payout is to be adjusted. The governemnt figures for 2009 are not yet avaiable and won't be for a month or more, so apparently, SS uses the figures for year 2008 to compute the the pension for year 2010.