No COLA for Social Security

Snoopp · ‎02-02-2015

It is the third time in 40 years that payments will remain flat. Reason given is low gasoline prices.

151949 · ‎03-09-2010

I had already heard this. Not a big deal to me because , in fact, the cost of gasoline is very low right now. Personally, not a big issue to me at this time.

azgal · ‎03-09-2010

No mention of rising food prices? I guess that doesn't count.

“We should be too big to take offense and too noble to give it.” Abraham Lincoln

Mz iMac · ‎07-26-2014

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"Never argue with a fool. Onlookers may not be able to tell the difference."

catwhisperer · ‎07-11-2010

As already mentioned, food prices. Then there are the rising costs of rents and utilities. Our rent is 45% of our monthly income! Those in charge just don't care. They HAVE money, so COLA is none of their concern.

Edited for spelling.

I promise to remind myself every day that I am strong, courageous, and resilient.

azgal · ‎03-09-2010

I know it was never a big raise and many times they raised Medicare premiums which offset some of that raise but for many people every little bit helps.

“We should be too big to take offense and too noble to give it.” Abraham Lincoln

151949 · ‎03-09-2010

Social Security was never intended to be anyone's sole source of income in their retirement. An individual has a responsibility to save for their retirement throughout their adult life. A small amount put aside over a lifetime really does add up, and makes for a comfortable retirement. The COLA raises are so small they really don't make a significant difference.

tansy · ‎01-02-2011

It's a strict equation that is used to determine the yearly COLA and there are many in govt attempting to change the way a COLA is figured. Look up unchained vs chained CPI. Pay careful attention to the people you vote for. It does matter.

DiAnne · ‎09-22-2010

I don't think most people rely just on Social Security for their retirement (at least I hope not!). Prices and interest rates have been very low.

Silver Lining · ‎04-16-2010

I understand what you're saying, 151949, but what about those who don't drive? There are many elderly people who don't. I know of some who either take a taxi or otherwise pay for transportation to get to their medical appointments, grocery store or pay for deliveries and those costs aren't lowered when gas prices are. Also, some don't have a spouse with whom to share household expenses. Also, through no fault of their own, some people have only SS as income.