Thursday, October 14, 2010

No social security raises . . . again

For the second straight year Social Security recipients aren't seeing a bump in their check from Uncle Sam. Social Security cost of living adjustments are set each year based on inflation, and because there was none this year there is no increase in benefits.

Fresh from attacking Republicans over social security, and immediately on the heels of its midterm elections campaign pledge to preserve and protect social security, the Obama administration was forced to announce a social security payment freeze for the second year in a row.

The Obama administration now has the dubious distinction of being the first presidency under which no social security recipient has received any payment increase or cost of living adjustment.

By the way - - with gas, energy and health care costs skyrocketing, and negative returns on 401K and other retirement acounts, how can they continue to deny that the cost of living for seniors has gone up?

No comments: