No COLA likely, but $250 check for some retirees By RICK MAZE | Last Updated:October 1, 2009
On the eve of an announcement that for the first time in 35 years there will be no annual cost-of-living increase in Social Security and government retirees' pay, the White House on Wednesday was working with Congress to rush a $250 emergency payment into the hands of seniors, veterans and the disabled.
Congress would have to approve the payments, which White House officials estimate would cost $13 billion.
The Social Security Administration is expected to announce Thursday what has been anticipated for months: The dismal U.S. economy has been such a powerful drag on inflation that there will be no cost-of-living adjustment Dec. 1 in federal benefits that are linked to the Consumer Price Index.
That includes Social Security benefits; military and federal civilian retired pay; and veterans' disability, survivor and pension payments.
While retirees have complained that they see higher costs for everything, the market basket of goods and services used by the Labor Department's Bureau of Labor Statistics to determine consumer prices has been heavily influenced over the past year by falling oil and gasoline prices, which have a widespread effect on the Consumer Price Index because it involves direct transportation costs, heating costs, and even the cost of food and clothing — all expenses in which transportation is a key element. The $250 payment looks small, but White House officials said it equals a 2 percent cost-of-living adjustment for the typical Social Security recipient.
President Barack Obama has been pressed by lawmakers to do something in the face of almost certain protests from older Americans who have come to expect annual increases in Social Security and other federal benefits. But tinkering with the COLA formula set in law would set a precedent of replacing an automatic, inflation-matching process with a political decision.
Instead, the White House announced a plan that would put a small payment — the $250 check — into the hands of 1 million military and federal civilian retirees, 2 million veterans or survivors of veterans, 49 million Social Security beneficiaries, and 5 million people receiving Supplemental Security Income.
People who qualify under more than one category — such as a military retiree also receiving veterans disability compensation and Social Security — would receive only one $250 check under the proposal.
In a statement, Obama said he was acting "on behalf of those hardest hit by this recession."
"These payments will provide aid to more than 50 million people in the coming year, relief that will not only make a difference for them, but for our economy as a whole, complementing the tax cuts we've provided working families and small businesses through the Recovery Act," Obama said.
The $250 emergency payment is similar to the $250 economic recovery payment made to some people last year, including disabled veterans whose income was too low to qualify for tax rebates.
There is NO automatic increases in Social Security. Your benefit will not increase except in the case of a COLA increase when it applies. (From the Social Security Site) "Under existing law, there can be no COLA in 2011.
Why? As determined by the Bureau of Labor Statistics, there is no increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of 2008, the last year a COLA was determined, to the third quarter of 2010."
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
With food prices up, gas prices are up, energy prices have gone up, health-care costs have gone up, how can you sit there and tell me that the cost of living hasn't gone up and there's no inflation. You have to be a tax lawyer to figure out the CPI index per the government so use common sense and open your eyes and you can see that the cost of living has gone no matter what the government says.
With food prices up, gas prices are up, energy prices have gone up, health-care costs have gone up, how can you sit there and tell me that the cost of living hasn't gone up and there's no inflation. You have to be a tax lawyer to figure out the CPI index per the government so use common sense and open your eyes and you can see that the cost of living has gone no matter what the government says.
COLA is based on what DID happen. Prices are rising, so in the next cycle, the COLA will reflect those increases.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Not according to the administration, 1.4% increase only and it's a lot higher than that. I would like to know when those low oil prices occured since 2009.
Not according to the administration, 1.4% increase only and it's a lot higher than that. I would like to know when those low oil prices occured since 2009.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
For 2012 the COLA per the administration is only going to be 1.4% increase, look it up. I can't believe that you would take the word of Congress when it's been proven that they can't be believed and have been lying to us for decades and that's why this country is in the shape it's in now. I already have been to those sites and they tell you nothing and my tax lawyer is off tonight.
For 2012 the COLA per the administration is only going to be 1.4% increase, look it up. I can't believe that you would take the word of Congress when it's been proven that they can't be believed and have been lying to us for decades and that's why this country is in the shape it's in now. I already have been to those sites and they tell you nothing and my tax lawyer is off tonight.
The COLA formula hasn't changed. It's the same as it was for the last few presidents... but the bigger issue here... The issue that seems to dominate this Right Wing Board...
THE GOVERNMENT IS THE ENEMY! Jezzz! It really gets old.
For starters, here is a definition that all Conservatives on this board should read and consider: Paranoia 1 : a psychosis characterized by systematized delusions of persecution or grandeur usually without hallucinations 2 : a tendency on the part of an individual or group toward excessive or irrational suspiciousness and distrustfulness of others
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
1.4% increase what a joke, if you believe the cost of living only went up that much you have fcking blinders on.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
The 'paranoid' on this board, who fear "Our Government" but seem quite content supporting Libyan Terrorist Qaddafi, now assume that OUR BIG BAD GOVT IS OUT TO GET US! Hitler showed that Propaganda works, and the TeaBaggers are applying those lessons to modern day USA! To live in fear of your own govt must be an awful thing. (I pity them)
Since 1975, Social Security general benefit increases have been cost-of-living adjustments or COLAs. The 1975-82 COLAs were effective with Social Security benefits payable for June in each of those years; thereafter COLAs have been effective with benefits payable for December. From Social Security online: Prior to 1975, Social Security benefit increases were set by legislation.
Year COLA 2005 4.1 2006 3.3 2007 2.3 2008 5.8 2009 0.0 2010 0.0 a The COLA for December 1999 was originally determined as 2.4 percent based on CPIs published by the Bureau of Labor Statistics. Pursuant to Public Law 106-554, however, this COLA is effectively now 2.5 percent.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
How did the NYS retirement system receive a COLA adjustment in 2009 and 2010? I think that's the question everybody wants an answer to. Either the State government gave the NYS pension a COLA adjustment that was unwarranted and screwed the NYS taxpayer, or Social Security screwed seniors out of a COLA adjustment that was warranted. OR...Government bureaucrats do what the fu(k they want and CPI and COLA is a bunch of bullshit.
How did the NYS retirement system receive a COLA adjustment in 2009 and 2010? I think that's the question everybody wants an answer to. Either the State government gave the NYS pension a COLA adjustment that was unwarranted and screwed the NYS taxpayer, or Social Security screwed seniors out of a COLA adjustment that was warranted. OR...Government bureaucrats do what the fu(k they want and CPI and COLA is a bunch of bullshit.
Some pension plans have FULL COLA. Some have partial coverage, some have none. There isn't one formula for issuing a COLA. SS has had the same plan with the same formula since the 70's. Nothing new there, except for the Right Wingers whining about it.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
We all saw the honest government lie to us when they fed the CBO lies and inflated projections of how much money the Health-Care bill would save the USA if it were passed. After the bill became law we find out that health-care will actually cost us a lot more money. Now the price of everything we buy has skyrocketed but per the government we have no inflation and the cost of the things we need to buy have all gone down. Someone is not telling the truth and I'll bet it's our government.
So, using your numbers Box, this will just show you the amount that the cost of this has gone up over the years. If, to use round numbers, a person got a benefit in 1974 (the year prior to the beginning of your list) of $100, that number will have increased now to a total of..... $431.04. Now, I also assume that there are now many more people utilizing this benefit. How much longer is it until we see that we can no longer afford it?
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