I Saw this at Yahoo! news, Think we are affected
http://news.yahoo.com/s/ap/20090823/ap_on_go_ot/us_social_se...
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Comments
SSI
If you live in the USA and receive Social Security Checks then there will be no Cost of Living increases this year due to the economy (COLA). AARP (American Association of Retired People) knew this a month ago.
Hugs,
Jenna From FL
Moderator/Editor
TopShelf BigCloset
Hugs,
Jenna From FL
Moderator/Editor
TopShelf BigCloset
It is a long road ahead but I will finally become who I should be.
Medicare will still be increasing
Unfortunately....that's the problem...it's not status-quo :(
I Usually Ignore What You Post. . .
. . .but posting this inane article crosses the line. Economically speaking the dollar amount on the SS check might not be bigger, but it's buying power IS bigger if negative COLA reflects actual spending power.
For years I've suspected COLA has been intentionally understated to help balance the budget on the backs of entitlements tied to that number.
I'm liberal in most issues, but I also understand the trainwreck that is tied to entitlements. These "third rails" have careeened out of control and no one dares speak about it.
As a small business owner I long ago gave up trying to use COL:A to determine what to give my employees in wage increases. I always give them an everage increase that is far beyond COLA.
This article has dubious merit on a TG site and even less merit because it doesn't make sense on so many levels -- such as suggesting that the value of your home is somehow linked to your income. While many Americans have used their home equity like an ATM, most retirees would rather cut off an arm than take that route. Look at how few reverse mortgages are sold and you will get the point.
Angela Rasch (Jill M I)
Angela Rasch (Jill M I)
COLA
I agree that it's not directly related, but many of the authors on this site are affected, so there's at least tangental relevance.
You're also right that so-called COLA has always been a political measure rather than anything reality-based, because every administration, and in some cases every year within each administration, has "fiddled" with the "market-basket" of goods and services that supposedly make up an "average" cost of living.
It's very easy to manipulate this figure by changing what people "want to buy."
So if meat goes up, and makes the Administration look bad, they decide that people don't really like to eat meat, or fish, any more and lower the amount that goes into the basket. It turns out that many people prefer eating meals of beans or rice and bread.
Similarly, in the case of a serious and long-lasting depression in the economy, it would turn out that people prefer eating out of refuse bins, thus lowering their cost of living.
Similar fiats have reduced the square footage and desirability of the housing situations people "want," the amounts of fresh vegetables they'd like to eat, and where (if anywhere) they'd like to go on holiday.
For older people especially, the COLA doesn't reflect their actual cost of living, because medical expenditures constitute a larger proportion of their expenditures than it does for younger people, and gasoline and other fuel costs less, on average. Fuel costs went down, which is the reason for no COLA, but medical costs went up sharply, which is the reason they need a COLA. Catch 22.
Cheers,
Puddin'
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Cheers,
Puddin'
A tender heart is an asset to an editor: it helps us be ruthless in a tactful way.
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