No Social Security COLA Increase for 2011

[bush_cheney2004]

Guess which American voting demographic has the highest turnout....that would be Senior Citizens. And they will not be happy when they get another year without a Social Security Cost of Living Adjustment (COLA) due to nonexistent inflation:

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.

http://www.realclearpolitics.com/news/ap/politics/2010/Oct/10/no_social_security_cola_expected_for_2011.html

Edited October 10, 2010 by bush_cheney2004

[Topaz]

I don't know if you are blaming Obama only but he's in a group since Reagan. Read the following on the history of the fund. http://www.hermes-press.com/sss1.htm

[bush_cheney2004]

I don't know if you are blaming Obama only but he's in a group since Reagan. Read the following on the history of the fund. http://www.hermes-press.com/sss1.htm

I'm not blaming anyone, just pointing out the political "optics" (Canada-speak) of the timing and possible impact on pending mid-term elections.

[punked]

Yah but the Republicans are running on ending Social security so I don't know if this is a good one to bring up for them.

[bush_cheney2004]

Yah but the Republicans are running on ending Social security so I don't know if this is a good one to bring up for them.

They don't have to bring it up....it is being announced as a matter of course...just like last year. AARP is already on it, as the Obama administration lobbies for additional "payments" anyway, realizing the political liability.

http://www.aarpfinancial.com/content/Learning/retPerspectives_hinden_1109.cfm