Originally published October 15, 2009 at 9:13 a.m., updated October 15, 2009 at 9:14 a.m.
WASHINGTON - There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975, the government announced Thursday.
Blame falling consumer prices. By law, cost of living adjustments are pegged to inflation, which is negative this year because of lower energy costs. Social Security payments do not go down, even when prices drop.
The Obama administration, meanwhile, is pursuing a different way to boost recipients' income. On Wednesday, President Barack Obama called for a second round of $250 stimulus payments for seniors, veterans, retired railroad workers and people with disabilities.
The payments would match the ones issued to seniors earlier this year as part of the government's economic recovery package. The payments would be equal to about a 2 percent increase for the average Social Security recipient.
Social Security payments increased by 5.8 percent in January, the largest increase since 1982. The big increase was largely because of a spike in energy costs in 2008.
"Social Security is doing its job helping Americans maintain their standard of living," said Social Security Commissioner Michael J. Astrue.
But, he added, "In light of the human need, we need to support President Obama's call for us to make another $250 recovery payment for 57 million Americans."
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Wright_Winger says...
His Wonderfulness gives us seniors $250 in faux SS payments and then takes $507 billion out of our budgeted Medicare benefits. That's $8,900 in medical benefits we each lose. Some bargain, but what would you expect from a community organizer who spent a few moments as a Senator.
Barack Hussein Obama, mmm, mmm, mmm
October 15, 2009 at 9:35 a.m. ( permalink | suggest removal )
azmaggie says...
That's 50 million that WILL be voting in the coming elections! The illegals will not be able to help next year. I look for a lot of people in Washington to be among the unemployed next time around. Funny how the price of oil is on the rise now they have announced this.
October 15, 2009 at 9:52 a.m. ( permalink | suggest removal )
chara says...
$250 dollars what will i ever do with such a godsend. if i had the plan congress has i belive i heard right $46 dollar co-pay. thats 5 months of insurance through their plan. heck of a lot cheaper than the plan my wife and i have.
October 15, 2009 at 10:21 a.m. ( permalink | suggest removal )
lamemusic says...
Its great to hear our elders whine and cry if they don't get a big enough piece of the pie. What about personal responsibility? When did people decide social security was the only income needed to retire? Why is it okay for the government to provide spending cash and medical insurance for seniors, but not for any other groups in the population? It would seem to me that those that we should most revere in our society, the so called greatest generation, are routinely taking part in a big helping of hypocrisy. It's a sad day in America, isn't it?
October 15, 2009 at 11:37 a.m. ( permalink | suggest removal )
Jose_Hipants says...
lamemusic, it's not the whole generation, just a few whiners.
October 15, 2009 at 11:44 a.m. ( permalink | suggest removal )
Jose_Hipants says...
Winger, you've been misled. That $500 billion medicare cut is a lie from the insurance industry. You can learn about it here:
http://www.factcheck.org/2009/08/more...
October 15, 2009 at 11:48 a.m. ( permalink | suggest removal )
lbc says...
There was no delay in providing CONGRESS their "cost of living increase". There was no objection, no problem, no delay.
They should be drawn and quartered.
October 15, 2009 at 12:35 p.m. ( permalink | suggest removal )
Wright_Winger says...
CBO: House Discussion Draft Yields More Than $500 Billion in Savings from Medicare Improvements
Publications
Wednesday, 08 July 2009 08:50
The House Committees on Energy and Commerce and Ways and Means released a preliminary estimate from the Congressional Budget Office (CBO) on a portion of the House Tri-Committee health reform discussion draft. The draft proposals included in the estimate would slow spending, yielding more than $500 billion in gross savings to Medicare over ten years while also extending the solvency of the Medicare Trust Fund and providing key payment and delivery system reforms.
Source: http://energycommerce.house.gov/index...
This is from the House Committees Energy, Commerce and Ways & Means own document.
Note the section that states a Medicare savings of over $500 billion.
You gonna believe that or your lyin' eyes. I mean that is straight from the horse's mouth, the committees that wrote the bill.
OVER $500 BILLION IN CUTS, JUST LIKE I SAID!!!
October 15, 2009 at 12:48 p.m. ( permalink | suggest removal )
Wright_Winger says...
From Kansas City Star, Oct. 13, 2009
"Senate Finance Committee approves health care overhaul package"
"Committee members approved by a vote of 14 to 9 a health care package that would cost $829 billion over 10 years, paid for with higher taxes on some health insurance plans, new penalties and fees, and major cuts in Medicare."
"The bills cut future spending for Medicare by hundreds of billions of dollars, worrying politicians as well as the elderly."
'"Make no mistake: This bill will be rewritten : behind closed doors," said Kansas Sen. Pat Roberts, who voted against the Baucus plan. "Many Americans will lose the coverage they have now, Medicare will be cut by $500 billion. : This is not reform."'
October 15, 2009 at 12:59 p.m. ( permalink | suggest removal )
taxedout says...
I hear many calling BHO "Socialist" one minute and then the same ones are crying he is not giving a raise to a socialist program? What's up with that? A little bit of socialism is ok, if it's buttering your bread, I get it now.
October 15, 2009 at 1:14 p.m. ( permalink | suggest removal )
Jose_Hipants says...
Winger, $500B in Savings from Medicare Improvements is not equal to $500B in lost benefits, as you claimed.
AARP has some good information on this subject. They say:
"Fact: None of the health care reform proposals being considered by Congress would cut Medicare benefits or increase your out-of-pocket costs for Medicare services."
You can learn more here:
http://aarp.convio.net/site/PageNavig...
October 15, 2009 at 1:22 p.m. ( permalink | suggest removal )
terrebatu says...
taxedout- Good observation.
WW-How is it that you show absolutely no compassion for the MILLIONS that have no health care while complaining that you might have some services cut from your TAXPAYER funded health care plan.
I'm sick of listening to the greedy old people in this country bitch and complain about cuts to Medicare You were running the show for the last 30 + years and did nothing to fix the problem. Now it is up to the younger generation to fix the problem that you neglected. You had your chance and you chose to do nothing.
October 15, 2009 at 1:32 p.m. ( permalink | suggest removal )
azmaggie says...
The younger or "gimme" generation is what is ruining this country. I feel sorry for you parents and grandparents that they have to look at you and day "where did I go wrong". You have no clue what these "old people" went thru. But I can tell you one thing the older people know how to survive.I feel sorry for the future generations of this country. I worked an paid into SS and ALSO a retirement plan so I did not count on SS alone!
October 15, 2009 at 1:54 p.m. ( permalink | suggest removal )
Wright_Winger says...
AARP is in Obama's hip pocket because they will make more royalties if and when health insurance becomes mandatory. AARP presently receives $300 million annually from United Health Care (UHC) to endorse UHC's insurance products. I don't blame any enterprise that wants to legally increase their profits, but AARP's "facts" should be taken with a grain of salt. As should those of FactCheck whose staff is composed of a CNN reject and others previously with the ACLU and labor unions. They no longer list their entire staff, but it is very left of center.
I originally stated that $507 billion is to be cut from BUDGETED Medicare benefits and everything I have found confirms that including the actual House Joint Committee document quoted above.
AARP says: "None of the health care reform proposals being considered by Congress would cut Medicare benefits.."
The fact is that Medicare Advantage plans will be eliminated or phased out by both the Senate and House versions. That is an example of one benefit especially valuable to seniors in more remote rural areas that is being cut.
Don't believe everything that AARP, PolitiFact and FactCheck post, they all have agendas of their own.
October 15, 2009 at 1:54 p.m. ( permalink | suggest removal )
mm1967 says...
lamemusic,
You are correct when was social security meant to be your retirement?Well lets see the poeple who lost almost all of their 401K's and are in their late 40's to late 50's maybe this is all they are going to have.Since most of their saving were lost in the last year.I do not think these people will work long enough to save what they have lost.But our goveremnt gave all of these big banks and not to mention the fact we own GM at this point but we cannot take care of our elderly.I was taught to respect my elders and I think it is only fair everything they have sacrificed for us that we make sure they have their Social Security.They deserve their raise and this is my opinion on the issue.Look at you statement when you get it.It now tell you in that this is the amount you will be able to draw and then it tells you that they will only be able to pay you 73% of that amount because the Social security will be going broke.Who fault it is going broke the people that pay it every payday? No it id the goverment they think this is their own personal bank account and dip into it all of the time.Leave the elderly along and give thme their raise and let them live and have food and medical insurance and not have to decided if they will eat or get their medicine.They worked for these benefits as well as we are.
October 15, 2009 at 2:13 p.m. ( permalink | suggest removal )
pops says...
I could handle this news much better if Congress and the President weren't getting any pay increases this year.....
October 15, 2009 at 3:09 p.m. ( permalink | suggest removal )
Wright_Winger says...
NEW YORK (CNNMoney.com) -- The White House on Thursday unveiled the first hard data on how many jobs the $787 billion recovery act has created.
So far, companies that have received stimulus contracts directly from the federal government have created 30,383 jobs. These firms have been awarded $16 billion in contracts, and have actually been paid $2.2 billion.
---------------------------------------------
Let's see....$16 billion spent...30,383 jobs created. My math just can't be correct. That would be $526,610 for every job.
Do you really want these dithering incompetents to run the nation's health care?
October 15, 2009 at 3:53 p.m. ( permalink | suggest removal )
pops says...
Wonder how much good it would have created in the lives of those 30,383 individuals had the government just given each of them half a million dollars each?? Wow!! They could have taken 60,000 people and given each of them a quarter million each, and imagin how much good THAT would have been!! What they DID was put $16 billion....yes, BILLION, with a B...and washed it down a bottomless hole.....
Let's see....let's help Americans, or NO!!! Better yet!! Let's SCREW Americans and just hand all this money to filthy rich, corrupt, tax-dodging, job-eliminating, greedy corporations!!
October 15, 2009 at 4:36 p.m. ( permalink | suggest removal )
lbc says...
A mere $526,610......it was the government doing it. We got by cheap.
What did Congress get as cost of living...was it 9%.
mm1967.....I want to tell you I'm one of those with what I would call selective compassion. I have compassion for those truly and appropriately, needy.
Years ago, I was one of those who didn't have insurance, by choice. I concluded I would take my chanchs....and I did. I had kids and paid the doctor/hospital, cash on the barrel head. I didn't ask anyone, for anything. If I'd had bad things happen it would have caused me serious financial trouble.
I think folks should have that right. And the other "group" that I have no compassion for is illegal alliens.....they have no right to violate our laws and expect "compassion".
The problem in this whole mess is the politicans, plain and simple.
October 15, 2009 at 5:07 p.m. ( permalink | suggest removal )
rcaples04 says...
I am on Social Security but I did not want to rely on this to live on once I did retire so while I worked I socked away the max into my 401k and profit sharing, then the market went south lost thousands upon thousands of dollars, so don't preach to me about not relying on SS and help myself "I DID"
October 15, 2009 at 5:16 p.m. ( permalink | suggest removal )
directtalk says...
looks like the right is running out of things to complain about. don't want the 250 which by the way is receiving rather wide support, just return it. changes in the health care system are around the corner and once they are we will see what the criticisms are then. a little like the recent carrying on about how nothing is changing with the economy. lets see the dow december 31; 8,776 the dow October 15; 10,0062. mmm, mmm, mmm.
October 15, 2009 at 7:05 p.m. ( permalink | suggest removal )
donaldo says...
i always thought that if the Dow goes down you lose money and when it come back up you make money. if you don't sell when it is low, you don't lose anything. when it comes back up you break even. stay with me now! if it goes up more you make money. am i wrong here or am i the one confused.i plan on retiring again in a few years and i want to expect some money there when it comes back up. i also expect some SS money too. am i expecting too much or should i spent all that i have saved and expect to die when the world ends in the year 2012?
October 15, 2009 at 7:37 p.m. ( permalink | suggest removal )
rkcubed says...
Azmaggie how did illegals help elect Obama, they can't vote! Also he had nothing to do with a loss of COLA increase. That increase or lack of is set forth by Congress.
It has been on the books since 1970's.
October 15, 2009 at 10:26 p.m. ( permalink | suggest removal )
rkcubed says...
Mm1967 what's the difference in owning GM or under Bush's TARP we bought several banks?
Is helping Wall street a more noble use of money over helping all the workers on main street?
Also Didn't Uncle Sam buy Chrysler once before? So way is it bad this time?
My wife used to work for one of those bailed out banks, they got Uncles Sam's money and then laid off thousands of workers. To give bonuses to a few at the top. Her 401(k) has a new name 401Krappy. That reminds me of a sick joke what starts with "f" and ends in "k" and means screw your employees?
answer
401(k)
.
October 15, 2009 at 10:36 p.m. ( permalink | suggest removal )
LibertyOrDeath says...
RKCUBED, I don't care what mm1967 has to say about Bush or anyone else, but I'm sick and tired of your liberals defending your party by, "but look at what Bush did." Listen numbskull - I didn't like that idiot either so drop it. You sound like a child when you do this.
Directtalk, you're seriously going to post DJIA figures in an effort to praise the Idiot in Chief? Anyone trying to back up their arguments for Obamarama by citing market figures is an idiot.
You are completely aware that the market is artificially high, right? You do know that billions upon billions were injected into these markets to "fluff the numbers" right?
See, it's people like you who are more of a detriment to your party than the party themselves. And one last thing, "mmm, mmm, mmm?" Is that supposed to be some twisted reference to the Obama Youth Ghetto Jump-rope song?
Not only has Obama done nothing, but the liberal left actually thinks one man can turn the stock market around - tool. One last thing, if you're going to be praising the market numbers then you better give your boy Bush some credit, he signed TARP.
Buncha freakin' idiots around here anymore.
October 16, 2009 at 6:40 a.m. ( permalink | suggest removal )
chara says...
i don't mean to sound like i'am whining about $250 dollars. if i get it i'll just donate it like i did the last one. xmas is just around the corner and will surely help somenone. its just the me me me generation seems to think that all seniors want a handout. nothing farther from the truth. most have worked hard all their lives and just want to be treated fairly,not like a political pawn.
most folks on SS worked there entire lives and have earned it. its not a handout,its a debt owed to those who came before us and gave us the oppurtunity to have what we have.
i was lucky enough to have parents who taught me how to save and respect those that have worked their tails off for what they have,but to also understand some need help through no fault of their own.
so no i'am not whining just laughing about about that whopping $250. dinner tip for those bankers we bailed out.
October 16, 2009 at 8:42 a.m. ( permalink | suggest removal )
directtalk says...
there are a bunch of idiots okay and they are the one unwilling to accept how things got to where they were just a short time back. as with other subjects you have no idea of my party and the real detriment to things are those putty their radical positions above anything that might actually serve in making things better for the nation. as for the mmm, mmm, mmm, it was making reference to probably one your idols limbaugh and others using the expression in support of his lunacy.
October 16, 2009 at 3:30 p.m. ( permalink | suggest removal )
LibertyOrDeath says...
Can you even make a coherent statement?
I withdraw my comments towards you, you obviously struggle with the English language.
October 16, 2009 at 6:08 p.m. ( permalink | suggest removal )
directtalk says...
perhaps a couple typo's, just like in the first paragraph of your 6:40 a.m. post. in any case if unable to comprehend the intent of the content i am not the one with a problem with the english language. if you have not figured it out your ranting and cheap shots mean nothing to those looking for real debate on this or any other issue.
October 16, 2009 at 8:40 p.m. ( permalink | suggest removal )