For the second year in a row, there will be no Social Security cost of living allowance in 2011. This is the second year in a row where there has been no increase, which by coincidence, is the only two years there has been increase.
From Fox News: "As if voters don't have enough to be angry about this election year, the government is expected to announce this week that more than 58 million Social Security recipients will go through another year without an increase in their monthly benefits.
It would mark only the second year without an increase since automatic adjustments for inflation were adopted in 1975. The first year was this year.
"If you're the ruling party, this is not the sort of thing you want to have happening two weeks before an election," said Andrew Biggs, a former deputy commissioner at the Social Security Administration and now a resident scholar at the American Enterprise Institute.
"It's not the congressional Democrats' fault, but that's the way politics works," Biggs said. "A lot of people will feel hostile about it."
http://www.foxnews.com/politics/2010/10/10/government-expected-nix-cost-living-increase-social-security/?test=latestnews
While technically, the Democrats are not directly at fault, their failed economic policies are. I also the COLA has gone up for most people. Gas prices are slowly rising, food prices on many products are rising- shoot, milk has gone from $2.08 a gallon to over $2.44 a gallon, in the past 3 months.
Of course, federal employees will get a raise this year. Same with legislators in the Senate and House. But those receiving Social Security, forget about it.
So, here's another reason why 58 million Social Security recipients should be mad at the Democrats.
Sunrise (with crescent moon) — 6:32, 6:51.
10 hours ago
It's a sticky question, isn't it? I haven't gotten a raise in at least three years, and my hours were cut two years ago (long before there were any Obama policies to blame). I'd venture to say that many people aren't getting cost of living increases themselves, and many would likely squawk if SS recipients got one.
ReplyDeleteAdd to this that Republicans are being quite vocal about "cutting entitlements" or privatizing them, or getting rid of them altogether. This is a case where there are no winners.