Posted on Friday, 15th October 2010 by Patrick Dorwin
Social Security recipients get no cost of living increase for the second year in a row, but Rusty Feingold is proud of how Social Security is working?
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7 Responses to “Social Security recipients get no COLA for the second year in a row”
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October 15th, 2010 at 11:53 am
Yup, and I know some people on S.S. who are going to express their feelings about this on November 2nd. Way to stand up for “the little guy” Dems.
October 15th, 2010 at 7:48 pm
Does this mean that Congress won’t get a pay increase this year?
October 16th, 2010 at 9:18 pm
I get S.S. and I’m OK with no raise. The fund is broke and any increase or one time bonus is just money my kids and grand kids will be taxed for to repay in the future. We seniors should not feel we are a pampered class when a lot of US citizens have lost jobs or have fewer opportunities due to the recent big government mistakes on managing the economy.
October 19th, 2010 at 8:22 am
I don’t think well-informed people see a real issue here. That is, anyone who’s informed on the issue knows that the reason why there’s been no increase in 2010 or 2011 is because of the 5.8 percent increase in 2009.
The 5.8 percent was calculated in the third quarter of 2008 and reflected the oil-price peak in the summer of 2008. It significantly overstated actual inflation for 2008.
From an actuarial viewpoint, it would have cost less to have the 5.8 percent spread over three years instead of being awarded up-front. And (of course, it would have been impossible to correct for the 5.8 percent with a negative COLA later, as Social Security payments (like most government spending) can only ratchet up, not down.
And so, Social Security recipients have hardly been shortchanged.
But, given the crude “They’re gonna take granma’s Social Security away” scare-ads, will it make a difference in the election? I dunnno.
Perhaps ballots should have just two questions- (1) do you want more or less cash benefits from government, and (2) do you want to pay more or less taxes? And when 70 percent vote for more beenfits and less taxes, well, democracy’s been a grand experiment, hasn’t it?
October 20th, 2010 at 10:50 am
Do you think our old folks will FRENCH on us??
Maybe they’ll go GREEK? Oh dear, that would be ugly.
October 20th, 2010 at 11:17 am
City of Milwaukee Retirees:
You people are living too long! You’re costing way too much.
The smoking lamp is lit. Relax and enjoy a Marlboro.
At yesterday’s budget hearing, Ald. Michael Murphy suggested a pack of cigarettes be given to every retiree, along with ending “wellness” benefits. It must have been a joke because all those aldermen were laughing!
I’m sure glad Scott Walker didn’t make a joke about his thieving retirees!
The cadaverous alderman Nik Kovak, who hates anyone who makes a profit, demanded from the city assessor a list of health care facilities who are exempt from taxes. They make all this money and we can’t get a dime from them. So when you get sick from those cigarettes, take the bus or the train out of town because there will be less health care providers in the city.
October 20th, 2010 at 1:25 pm
mr. parker, I caught part of that mtg on television but turned it off after watching and listening to Mike Murphy start pontificating about “right wingers” and launching into the other Democrat talking points. I’m sure that had to all be in the written agenda for the meeting. Can’t believe Murphy would abuse his position as Chairman of that Committee to expound his own personal point of view. Yeah, right. Hey Murph, if you read this, you might want to think about not going beyond the first floor of City Hall for about a week after the November 2nd elections. There might be some open windows and doors leading to the outside and in the emotional state you’re going to be in, well… just stay on the ground floors and away from the Hoan Bridge for awhile.