The Conservative Cave
Current Events => The DUmpster => Topic started by: franksolich on April 11, 2010, 01:03:24 PM
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=250x3650
Oh my.
dajoki (1000+ posts) Mon May-04-09 02:33 PM
Original message
SSD & SSI; No COLA in 2010 & 2011
Social Security will not raise benefits in 2010, forecasts say
http://www.mercurynews.com/politics/ci_12281478?nclick_...
WASHINGTON — For the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.
The absence of a cost-of-living adjustment, calculated under a formula set by law, will be a shock to older Americans already hit by plummeting home values, investment losses and rising health costs. More than 50 million people receive Social Security.
"Most seniors have never been through a year in which there was no Social Security COLA," said David M. Certner, legislative counsel at AARP, the lobby for older Americans. Beneficiaries have received automatic cost-of-living adjustments every year since 1975. The increase this year was 5.8 percent.
<<snip>>
The forecasts, by the Obama administration and the Congressional Budget Office, indicate that Social Security beneficiaries will not receive any cost-of-living increase in 2010 or in 2011. The COLA is intended to preserve the purchasing power of Social Security.
A freeze in Social Security benefits would have major implications for Medicare because the COLA, in effect, puts a cap on premiums for Part B of Medicare, which covers doctors' services.
If there is no cost-of-living adjustment for Social Security, about three-fourths of beneficiaries will not see any change in their basic Part B premiums, federal officials said. But some beneficiaries do not have this protection and could face substantial increases in their Part B premiums.
Douglas W. Elmendorf, director of the Congressional Budget Office, predicted that inflation would remain low for several years, so Social Security might not pay a cost-of-living increase until January 2013. President Barack Obama's budget assumes no increase in 2010 or 2011, then a 1.4 percent COLA in 2012.
Tough shit.
DJ13 (1000+ posts) Mon May-04-09 03:49 PM
Response to Original message
1. So as food continues its slow rise, and gas once again marching towards $3.00
Obama will just tell Social Security recipients tough shit?
franksolich said it before il Duce Bo did; check above.
peteykgirl (12 posts) Fri Apr-09-10 06:30 AM
Response to Reply #1
3. $0
we got the stimulos payment. we don't get COLA. other tax payers didn't get penalized. they even got more $ than we did. SUCKS.
Tough shit.
MercutioATC (1000+ posts) Mon May-04-09 04:21 PM
Response to Original message
2. There IS a COLA adjustment for 2010 and 2011...
...it's just zero.
SS COLAs are based on the CPI-W, which currently shows zero growth in cost of living.
But, since each year's SS COLA is based on comparing Q3 numbers from the previous year with Q3 numbers from the year preceding THAT, I don't see how this announcement is anything more than a prediction.
Too bad. The gravy's getting watered down, on the gravy train.
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peteykgirl (12 posts) Fri Apr-09-10 06:30 AM
Response to Reply #1
3. $0
we got the stimulos payment. we don't get COLA. other tax payers didn't get penalized. they even got more $ than we did. SUCKS.
WE didn't get anything, no "stimulus payment"...nothing. In fact, we lost even MORE deductions on our taxes this year and paid more in taxes this year than you probably made in 10 years. We paid enough in taxes to cover your SSI payments for years. YOU SUCK.
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Don't worry DUchebags, the federal employees will get a COLA.
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The one thing I can agree with 'O' on. Half way anyway. Instead of getting nothing in the way of a raise they should be reduced.
KC
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Don't worry DUchebags, the federal employees will get a COLA.
Yeah mine was 1.77%.
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Yeah mine was 1.77%.
Pretty good. My pay was cut in half. Not too many folks buying homes right now.
KC
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Military retirees aren't getting COLA in FY11 either.
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This DU post was originally made May 2009....
So, tell me again, DUmmies, how Dimrats are "for the little man". I keep forgetting....
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This DU post was originally made May 2009....
So, tell me again, DUmmies, how Dimrats are "for the little man". I keep forgetting....
But the latest post was April 10, 2010, which meant the campfire was still burning.
Usually if I resurrect something, I mention it's old, but in this case it's still burning.
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But the latest post was April 10, 2010, which meant the campfire was still burning.
Usually if I resurrect something, I mention it's old, but in this case it's still burning.
Dang, 11 months is a long time to keep a fire burning....
I hope the price of delivered pizza doubles in the next year....
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Good news, Obama will be passing out 7-Up instead.
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DJ13 (1000+ posts) Mon May-04-09 03:49 PM
Response to Original message
1. So as food continues its slow rise, and gas once again marching towards $3.00
Obama will just tell Social Security recipients tough shit?
Wassamatter dicksuck, buyer's remorse?
G0bama!!!111
heh...
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Wassamatter dicksuck, buyer's remorse?
G0bama!!!111
heh...
:rotf:
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This DU post was originally made May 2009....
So, tell me again, DUmmies, how Dimrats are "for the little man". I keep forgetting....
The democrats whole-heartedly support the little man. They love the little guys so much, they're making new ones.
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The democrats whole-heartedly support the little man. They love the little guys so much, they're making new ones.
Hopefully not by breeding . . .
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Hopefully not by breeding . . .
Yes, that way too.