Social sec raises will probably be lowest since 1975.

[powderman]

Read rest of story at link. POWDERMAN. 
 
By law, the Social Security Administration compares the price index for July, August and September with consumer prices in the same three months from the last year in which a COLA was awarded. A COLA was awarded a year ago, so the index from July, August and September of this year is being compared with the index from the same period in 2011.
If prices go up over the course of the year, benefits go up, starting with payments delivered in January. But if prices go down, benefits stay the same. That's what happened in 2010 and 2011, when there was no COLA.

This year, consumer prices for July and August indicate next year's COLA would be 1.4 percent. The price index for September -- the final piece of the puzzle -- will be released Tuesday. Several economists said they don't expect it to change the projected COLA by more than a few tenths of a percentage point, if at all.

Vlasenko estimates the COLA will be from 1.5 percent to 1.7 percent. AARP estimates it will be about 1.5 percent.
Since 1975, the annual COLA has averaged 4.2 percent. Only five times has it been below 2 percent, including the two times it was zero. Before 1975, it took an act of Congress to increase Social Security payments.

"Over the past year, consumer prices have only gone up a little bit," Blau said. "By historical standards, it's a very low rate of increase."


Read more: http://www.foxnews.com/us/2012/10/14/social-security-increase-for-2013-could-be-lowest-since-175/?test=latestnews#ixzz29HIVLwbE

[magooch]

Any system the government has for evaluating inflation would be nuts if it doesn't acknowledge reality.  And reality is that we are being driven into poverty by inflation.
 
Someone had better wake up and understand the damage that is being done to Social Security by the ruinous cut in the FICA tax (payroll tax).  It was supposed to be a temporary one shot deal to give a little boost to the economy.  It was desperate and feeble and wasn't worth the harm it will do to the Social Security program.  Both parties have to take the heat for this debacle.

[BUGEYE]

I would like to see SS frozen for the time being, along with every government entity.
STOP SPENDING and start eliminating departments and start streamlining whats left, and STOP BORROWING and we could start to see the light at the end of the tunnel.

but it won't happen under hussein.

[magooch]

What about the private sector--should those wages be frozen too?

[jhm]

     As far as the private sector goes if your boss can afford to give you a raise he should, but the Federal government CANT afford to give anyone a raise without barrowing the money and the federal government needs to cut back on the # of employessitting at the desks putting in their time.  Jim

[powderman]

WOW, I need to start looking into posibilities for the coming $8 windfall in Jan, ooppppps I fergot, by then they'll be taking out an xtra $100 + for  medicare. POWDERMAN. 

[dwalk]

i don't know how many of you here actually draw SS...but let me assure you...from experience...it is NOT going to make you rich! in fact, it's barely enough to get by on if it's all you have as an income.

i grow weary of hearing "On the government handout" about those of us who draw SS...we worked hard, and paid for, what we are now drawing as per the promise of the US government's LAW...medicare is NOT FREE as some might believe...i STILL pay a monthly premium after paying into medicare FOR MANY YEARS while i was working.


ss has NEVER kept up with COLA in reality

ss was NOT designed, intended or designated to be a PRIMARY means of support for a retiree...it was designed as a supliment to what the retiree was supposed to have accured for his/her retirment...but guess what? the recession of 2009 on wiped out that IRA/savings of many leaving them to rely on ss.

say and think what you will...ss and medicare IS, and will be, all the hope many have now as a result of government and this president is making it worse!

[BUGEYE]

What about the private sector--should those wages be frozen too?

nope, I'm talking government spending.  the private sector can do as they please.
in fact if government spending were under control, more small business would open and do it with higher wages.

[nomosendero]

This thread is an indicator of the fight ahead for SS to stay alive. At the current rate it will go bust without reform, but people are worried about raises.f it goes bust, the checks stop.
Reminds me a wee bit of Unions, oh well.

[magooch]

Those of us who are receiving SS benefits weren't given a choice of whether, or not to pay into the program.  Now that we are, all we ask is don't change the rules in the middle of the game.
If the government had invested the billions in excess contribution into the right types of revenue producing facilities--hydro dams, high energy power lines, water projects etc., there would be plenty of money to sustain the program and it would have created good paying jobs.  Instead the excess funds were handed over to the general funds and squandered.  However, the federal treasury and by extension the U.S. taxpayer still owes the Social Security fund for the bonds it holds.   
There are one heck of a lot of cuts the federal government should make before it turns on the folks who faithfully paid into the involuntary Social Security system.  By the way, I'm lucky enough to not have to depend on SS benefits, but that doesn't mean I would relish being a patsy for the irresponsible politicians who put us in this boat.