No COLA for Seniors Again...

[iwiw60]

I am very close to losing my cool. There will be no COLA for senior citizens again for 2010. We took it on the chin in 2009, sucked our belts in a notch, but to have to go through another 12 months without ANYthing...?? C'mon...throw us a bone! I'd be happy with a lousy ten bucks! Read this this morning:

Top Stories | Business | Sports | Entertainment | Strange | Politics | Technology | National | International | Health
No Social Security COLA expected for 2011

October 10, 2010 5:04 AM EDT
WASHINGTON (AP) — 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."

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.

The projection will be made official on Friday, when the Bureau of Labor Statistics releases inflation estimates for September. The timing couldn't be worse for Democrats as they approach an election in which they are in danger of losing their House majority, and possibly their Senate majority as well.

Totally discouraged here...sigh...

[Pink_Panther]

Switch to Pepsi?

[craig7501]

or get shops own brand it'll be cheaper

[Pink_Panther]

or get shops own brand it'll be cheaper

rotfl

[iwiw60]

Appreciate your tee-hee's, fellas, but this really is a serious issue....sigh...

[crafters_corner]

Blimey! I thought pensioners here had it bad.

[bluebedouin]

Appreciate your tee-hee's, fellas, but this really is a serious issue....sigh...

It's probably world wide,it certainly is here.I can't remember when a cost of living "rise" was anywhere close to the actual amount.Usually 2-3% below.
At the end of the day somebody somewhere has to say enough is enough & stop increasing prices.When we read of companies making billions in profit then it's those companies that need to just make millions in profit.
Mankind is just too greedy and selfish to do that though.

[papagran40]

It seems very starnge to me when the powers that be say the cost of living is x amount...the minimum wage is y and the pensioners gets z which is a long way short of the minimum wage.....how are we meant to do it ????........papa.

[TonyBridger]

According to the OP any rise is automatic in line with inflation so IMO no rise must be a good thing as it means inflation is not rising too high. Or do people expect to get Social Security rises even when theres no, or low, inflation

[Pink_Panther]

I'd like to see all MPs forced to live for a month on benifits and/or minimum wage.

Have em monitored (they will cheat given half a chance!).

What a reality check that would be!