Lower Gas Prices Means No Social Security Increase Next Year
WASHINGTON (AP) — For just the third time in 40 years, millions of Social Security recipients, disabled veterans and federal retirees can expect no increase in benefits next year, unwelcome news for more than one-fifth of the nation’s population.
They can blame low gas prices.
By law, the annual cost-of-living adjustment, or COLA, is based on a government measure of inflation, which is being dragged down by lower prices at the pump.
The government is scheduled to announce the COLA — or lack of one — on Thursday, when it releases the Consumer Price Index for September. Inflation has been so low this year that economists say there is little chance the September numbers will produce a benefit increase for next year.
So what your saying is that since the working class american's are getting a break at the pump it is our fault that the elderly aren't getting a cost of living increase? Guess what working americans have to budget our money to afford what we need and so should the retired, and disabled!
this is crap. we are now paying higher medicare ins. premiums and other higher costs. this government is nothing short of evil. BTW, they should NEVER have another pay increase. They are useless.
So the price of gas went down. Somehow I don't see Granny as a major gas consumer. But has the price of hamburger gone up? Broccoli? Health Insurance? Yes, yes, and yes. Electricity is about the same and if she uses gas or propane that may actually go down. I'll believe it when I see it.
Someone needs to explain to me and others on SSI why are Politians and Unions pushing for a $15.00 an hour for workers to have "A LIVING WAGE". Senior Citizens need a living wage also we have the same expenses and more considering the cost of prescriptions. Do we not also deserve "A LIVING WAGE"?
How about you and others on SSI explain to those making min wage why they don't deserve a living wage for working NOW. You worked hard for countless years and receive your check. Fantastic! Do you really think people who are still working have any reasonable chance at SSI EVER paying THEM out? SSI will be insolvent by then.
Anonymous Anonymous said... So what your saying is that since the working class american's are getting a break at the pump it is our fault that the elderly aren't getting a cost of living increase? Guess what working americans have to budget our money to afford what we need and so should the retired, and disabled!
October 12, 2015 at 2:17 PM
Your fault? wth are you talking about? We budget your money sonny, often not buying high priced medicine so we can eat. You and the other 'working class americans' will find out if you live that long. BTW, we were working class too simpleton.
How about you and others on SSI explain to those making min wage why they don't deserve a living wage for working NOW. You worked hard for countless years and receive your check. Fantastic! Do you really think people who are still working have any reasonable chance at SSI EVER paying THEM out? SSI will be insolvent by then.
October 12, 2015 at 4:47 PM
That is a fear tactic they have been saying for decades. If pols would stop robbing the fund and pay back what they are supposed to there would be no 'shortage'. They use that sleight of hand tactic to draw attention away from where the real problem is and get people like yourself accustomed to the lie.
People working and paying into SS now are having less taxes taken from them and put into the system. And 447, SSI is a different program than Social Security payments for retired and disabled workers.
Anonymous Anonymous said... So what your saying is that since the working class american's are getting a break at the pump it is our fault that the elderly aren't getting a cost of living increase? Guess what working americans have to budget our money to afford what we need and so should the retired, and disabled!
October 12, 2015 at 2:17 PM
Anonymous Anonymous said... How about you and others on SSI explain to those making min wage why they don't deserve a living wage for working NOW. You worked hard for countless years and receive your check. Fantastic! Do you really think people who are still working have any reasonable chance at SSI EVER paying THEM out? SSI will be insolvent by then.
October 12, 2015 at 4:47 PM
Specifically, in 2042 and for many decades thereafter, the Social Security system can continue to pay benefits, but benefit payments will be constrained by the revenue base from the 12.4% FICA (Social Security payroll) tax on wages. According to the Social Security trustees, continuing payroll tax revenues at the rate of 12.4% will enable Social Security to pay about 74% of promised benefits during the 2040s, with this ratio falling to about 70% by the end of the forecast period in 2080.[20]
Under Barack Obama[edit] In 2011 and 2012, the federal government temporarily extended the reduction in the employees' share of payroll taxes from 6.2% to 4.2% of compensation.[21] The resulting shortfall was appropriated from the general Government funds. This increased public debt, but did not advance the year of depletion of the Trust Fund.[22]
They keep them at the right place so that they are not eligible for most assistance. It has become better for people to just not work at all. Stay single have a bunch of kids and keep collecting the money.
pay no attention to the fact that everything you buy at the grocery store contains less volume for sale at the same low price it was last year :(
ReplyDeleteSo what your saying is that since the working class american's are getting a break at the pump it is our fault that the elderly aren't getting a cost of living increase? Guess what working americans have to budget our money to afford what we need and so should the retired, and disabled!
ReplyDeleteRemember that you said this when you're retirement comes.
Deletethis is crap. we are now paying higher medicare ins. premiums and other higher costs. this government is nothing short of evil. BTW, they should NEVER have another pay increase. They are useless.
ReplyDeleteSo the price of gas went down. Somehow I don't see Granny as a major gas consumer. But has the price of hamburger gone up? Broccoli? Health Insurance? Yes, yes, and yes. Electricity is about the same and if she uses gas or propane that may actually go down. I'll believe it when I see it.
ReplyDelete2:17, I do. Thank you! map
ReplyDeleteSomeone needs to explain to me and others on SSI why are Politians and Unions pushing for a $15.00 an hour for workers to have "A LIVING WAGE". Senior Citizens need a living wage also we have the same expenses and more considering the cost of prescriptions. Do we not also deserve "A LIVING WAGE"?
ReplyDelete3:17
ReplyDeleteHow about you and others on SSI explain to those making min wage why they don't deserve a living wage for working NOW. You worked hard for countless years and receive your check. Fantastic! Do you really think people who are still working have any reasonable chance at SSI EVER paying THEM out? SSI will be insolvent by then.
Anonymous Anonymous said...
ReplyDeleteSo what your saying is that since the working class american's are getting a break at the pump it is our fault that the elderly aren't getting a cost of living increase? Guess what working americans have to budget our money to afford what we need and so should the retired, and disabled!
October 12, 2015 at 2:17 PM
Your fault? wth are you talking about? We budget your money sonny, often not buying high priced medicine so we can eat. You and the other 'working class americans' will find out if you live that long. BTW, we were working class too simpleton.
How about you and others on SSI explain to those making min wage why they don't deserve a living wage for working NOW. You worked hard for countless years and receive your check. Fantastic! Do you really think people who are still working have any reasonable chance at SSI EVER paying THEM out? SSI will be insolvent by then.
ReplyDeleteOctober 12, 2015 at 4:47 PM
That is a fear tactic they have been saying for decades. If pols would stop robbing the fund and pay back what they are supposed to there would be no 'shortage'. They use that sleight of hand tactic to draw attention away from where the real problem is and get people like yourself accustomed to the lie.
I bet they get a pay raise this coming year!
ReplyDeletePeople working and paying into SS now are having less taxes taken from them and put into the system. And 447, SSI is a different program than Social Security payments for retired and disabled workers.
ReplyDeleteAnonymous Anonymous said...
So what your saying is that since the working class american's are getting a break at the pump it is our fault that the elderly aren't getting a cost of living increase? Guess what working americans have to budget our money to afford what we need and so should the retired, and disabled!
October 12, 2015 at 2:17 PM
Anonymous Anonymous said...
How about you and others on SSI explain to those making min wage why they don't deserve a living wage for working NOW. You worked hard for countless years and receive your check. Fantastic! Do you really think people who are still working have any reasonable chance at SSI EVER paying THEM out? SSI will be insolvent by then.
October 12, 2015 at 4:47 PM
Specifically, in 2042 and for many decades thereafter, the Social Security system can continue to pay benefits, but benefit payments will be constrained by the revenue base from the 12.4% FICA (Social Security payroll) tax on wages. According to the Social Security trustees, continuing payroll tax revenues at the rate of 12.4% will enable Social Security to pay about 74% of promised benefits during the 2040s, with this ratio falling to about 70% by the end of the forecast period in 2080.[20]
Under Barack Obama[edit]
In 2011 and 2012, the federal government temporarily extended the reduction in the employees' share of payroll taxes from 6.2% to 4.2% of compensation.[21] The resulting shortfall was appropriated from the general Government funds. This increased public debt, but did not advance the year of depletion of the Trust Fund.[22]
Any time any person does business with the government in any way they are fixing to get burned, and badly.
ReplyDeleteThey keep them at the right place so that they are not eligible for most assistance. It has become better for people to just not work at all. Stay single have a bunch of kids and keep collecting the money.
ReplyDelete3:51
ReplyDeleteSadly I believe you are correct.