Its Official No Social Security COLA in 2010

Discussion in 'Politics' started by alatide, Oct 17, 2009.

  1. alatide

    alatide
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    Its Official No Social Security COLA in 2010
    Obama supports bills in Congress that would give beneficiaries a $250 payment
    By: Carole Fleck | Source: AARP Bulletin Today | October 15, 2009

    For the first time in 35 years, millions of older Americans won’t be getting a fatter Social Security payment next year. As expected, the Social Security Administration announced Thursday that there won’t be an automatic cost-of-living adjustment (COLA) for 2010.

    But beneficiaries can still hope for extra money. President Barack Obama on Wednesday called on Congress to approve a new $250 payment to some 56 million people next year in lieu of a COLA. The payment, equal to a 2 percent increase, would go to those who receive Social Security retirement or disability benefits, veterans benefits, and to railroad retirees and retired public employees who don’t get Social Security. A $250 payment for many of the same people was included in the huge federal stimulus package approved earlier this year.

    Obama’s proposal, which is similar to several bills in Congress, would cost about $13 billion. Michael J. Astrue, commissioner of Social Security, called on lawmakers Thursday to support Obama’s plan.
    Plea for ‘those hardest hit’

    “Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession,” Obama said. “This additional assistance will be especially important in the coming months, as countless seniors and others have seen their retirement accounts and home values decline as a result of this economic crisis.”
     
  2. targus

    targus
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    Isn't this like the third or fourth thread on this same subject - if not the same article?
     
  3. saturneptune

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    There should be no social security cola. Most people are collecting social security in multiples of what they ever paid into it. When the law was set up, it explicitly said, the purpose of social security was not ever meant to be a single source of income. People over the years should have either contributed to their employer retirement or saved for themselves. And yes, it can be done regardless of income, since when I was raising a family, I had only a high school education, paid off my house and put both kids through college with a bachelor's degree and no college loans.
     
  4. exscentric

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    I received a letter from SS telling me this couple months ago so why are we hearing this as NEW???????????????
     
  5. billwald

    billwald
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    If the cost of living has dropped then there should be a SS cut in payments.
     
  6. exscentric

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    "If the cost of living has dropped then there should be a SS cut in payments."

    Should probably work that way in the secular too but doesn't usually.

    I personally don't see that the cost of living has declined, everything I buy has gone up drastically in the last year with the exception of computers/parts which are about the same.
     
  7. alatide

    alatide
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    The article makes the point that the cost of medical care is still rising because we have a very inefficient system. This cost falls more on the elderly who have more health care problems than the young.
     
  8. Joseph M. Smith

    Joseph M. Smith
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    Because inflation has slowed or even reversed, and the SS COLA will be zero, I know of some churches that are planning zero COLAs for their church staff this coming year. The District of Columbia Baptist Convention will vote in a about a week on a budget that contains no raises for staff. Now will this show up all across the board throughout our economy, or will there still be many who will expect some raise as a matter of right?
     
  9. Salty

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    Due to the loss of taxes, our county has a budget shortfall. The contract for union county govt workers call for a 3% pay raise. The County Executive requested the union forgo the pay raise this year to balance the budget. The union leadership gave a resounding no!!! They demand the county go by the contract with the union.

    So thats exactly what the county is doing - going by the contract with the 3% pay raise, and laying off 150 workers.

    Be careful what you ask for, you may actually get it.

    And I understand, the union leadership refused to allow a union vote.
     
    #9 Salty, Oct 17, 2009
    Last edited by a moderator: Oct 17, 2009
  10. Winman

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    Ah, socialism at it's finest. Didn't they read Animal Farm? Only the piggies get to live in the farmhouse, everybody else stays outside. You may lose your job, but the union leadership will still be there.
     
  11. Winman

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    The unions are all behind Obama's plan for good reason.

     
  12. alatide

    alatide
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    My company declared a zero raise for this year for management and professionals. Of course, the unions threatened to strike and they got raises. They also have better health care plans than management and better pension plans. Unions had their day but now they are very much a part of the problem.
     
  13. targus

    targus
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    How odd.

    Your profile lists your occupation as "retired".
     
  14. saturneptune

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    I thought McDonalds was doing better than that.
     
  15. Salty

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    Do you trust CNN ?
     
  16. faithgirl46

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    Iam not shocked. The senior citzens will fight back when the elections come around
     
  17. Salty

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  18. alatide

    alatide
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    88888888888888888888888888888888888888888888888888888888888
     
  19. rbell

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    I requested that my church not give me a raise.

    I can't control if they do, but if they do, they'll "get it back," in the plate.


    We need more space at our church, and I want whatever they'd pay more to go to that. I'm paid a great, very fair wage by my church, and I don't need any more.

    I do get a say in what I receive as "ministry expenses" reimbursed to me (things like books, keyboard & band stuff for me, mileage, and admission to kids events). Gas went down, so I'm actually requesting less this year.

    I'm with you, Joseph. I'm bothered by folks in all walks of life that simply think that a yearly raise is supposed to happen. Now...if the economy's doing good, and you're a good employee, and your business is good...if you aren't given a raise, you're not currently overpaid...that might speak ill of the employer, and it might be time to change jobs. But if some of the above conditions aren't true...well, it would be bad business for the employer to give you one.


    That's one reason Alabama's schools are such a mess...raises are pretty much automatic...whether they can be afforded or not. But the union goons have brainwashed the masses and strongarmed the politicians into "raise is a right" thinking.
     

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