Category: Social Security
Posted by McKinzie Brantley on Sat, Oct 17, 2009 at 5:25 PMBad news, good news
Sometimes bad news is good news. It was recently announced that there would be no Cost of Living Increase (COLA) for the 50 million people receiving Social Security, including people with disabilties who are enrolled in SSI or SSDI programs.
The good news is the reason why: The federal goverment has calculated that annual "cost-of-living" expenses have decreased about 2 percent. So there's no need for an increase.
Elsewhere regarding Social Security, President Obama announced that he supported another $250 economic stimulus payment to veterans, seniors and people with disabilities who are stuggling financially during the recession. The payments would be similar to the checks mailed in May and would amount to a 2 percent increase for the average Social Security recipient.
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Social Security
The stabilization of consumer prices is a double-edged sword for older Americans and people with disabilities.
While it may be true that the consumer price index is now relatively flat -- resulting in "no need for an increase" in Social Security benefits -- it's also true that health care costs for seniors and people with disabilities are continuing to skyrocket.
Let's hope our representatives in Washington are mindful of that fact when they're deciding on whether to increase SS/Medicare/Medicaid payments.
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