Budget experts predict no Social Security cost-of-living increases for 3 years

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investorzzo's picture
investorzzo
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Posts: 1182
Budget experts predict no Social Security cost-of-living increases for 3 years

I had to shake my head on this one. Inflation on food, energy, still going up in this depression. But government finds a way to stick it to you again.  

http://finance.yahoo.com/focus-retirement/article/106849/Recession-Hits-...

VeganDB12's picture
VeganDB12
Status: Platinum Member (Offline)
Joined: Jul 18 2008
Posts: 731
Re: Budget experts predict no Social Security ...

You are so right. I have said this before, the elderly are being thrown under the bus completely.  Sadly, some may be more than willing to die a little earlier to avoid being a burden on the rest of us, I have heard this theme already from some elderly adults I work with who have been wiped out by the market crash and cannot live on their SS current payments alone. Of course this avoidance of COL increase also targets the disabled on social security.  Why not go after the weakest and the most disabled? It is unnerving to talk to these people (I have a clinical practice and work with lots of older adults and the disabled) already they are having trouble getting food and  paying their rents and it will clearly get much worse.

 I have written to my state legislators about this issue several times and hopefully it will continue to get press attention.  Older and disabled adults often are quite isolated and really quite vulnerable. I will continue to complain but so far no one has responded to my letters at the federal, state or local level. 

 

Regards

Denise

 

 

Ready's picture
Ready
Status: Platinum Member (Offline)
Joined: Dec 30 2008
Posts: 917
Re: Budget experts predict no Social Security ...

Guys,

With all due respect, SS is cooked, like before the 3 year period in question. This news is irrelevant when you consider the latest report: Social Security Stunner; Bankruptcy of Nation Moved Up Several Years.

Best,

Rog

MarkM's picture
MarkM
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Posts: 837
Re: Budget experts predict no Social Security ...

Rog,

Agreed that SS is cooked, as are most government figures.  Most of the "masses" don't pay attention to things like this.  However, I think they will start to wake up as government actions affect them directly.  If this prediction comes to pass, I predict more people will start to pay attention. 

Ready's picture
Ready
Status: Platinum Member (Offline)
Joined: Dec 30 2008
Posts: 917
Re: Budget experts predict no Social Security ...
MarkM wrote:

Rog,

Agreed that SS is cooked, as are most government figures. 

I guess you could take my post 2 ways, and both are right.

What I meant was SS is no longer viable, and will soon begin to contribute negatively to the US fiscal picture rather than propping it up. That said, your observation about cooking the books is also true!

Best,

Rog

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