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Why no cost-of-living increase in 2010 will hurt seniors

On October 15 the Social Security Administration (SSA) announced that there will be no cost of living adjustment (COLA) for Social Security recipients next year.  This means that about 57 million Americans who receive Social Security checks because they are retired, disabled or veterans will not get a bump to help them make ends meet.

 

The SSA justified this move by citing a lack of consumer price inflation, which in their minds means that it should not cost seniors and disabled individuals any more to eat and pay bills next year than it does right now.

 

This disappointing announcement comes after last year’s well-received 5.8 percent COLA increase – the largest in the last 25 years.  Social Security recipients also received a $250 payment last spring, a move that may be repeated as lawmakers try to soften the blow.

 

Another $250 payment for retired, disabled or veteran Social Security recipients would cost the government around $13 billion.  Advocacy groups like AARP are not happy about the lack of COLA and agree that the $250 payout would help individuals suffering in this bad economy.

 

As people watch the values of their nest eggs, retirement funds and home values plummet, the news that there will be no COLA is not good.  Considering the skyrocketing cost of healthcare and prescription drugs, many elder or disabled Americans are already struggling.

 

It remains to be seen if Congress will approve another much needed $250 check for Social Security recipients.

0 Response

  1. Kathy Cann

    My doctor co pays HAS gone up in 2010. My specialist co pays HAS gone up in 2010. Gasoline keeps going up. All the restaurants keep raising their prices higher & higher. The food and toiletries are going up in price higher & higher in 2010. The co pay for all my meds has gone up in 2010. Who is saying the cost of living has not gone up in 2010? Where did they get their information? Also why are the people in Congress allowed to get raises? We are the ones who really need it the most! People who are elderly, disadvantaged & disabled, etc don’t get enough as it is! Then they had the gull to NOT even give us a $250.00 one time stimulus check.

  2. John Casey

    I am retired living on social security. Due to an accident, I am unable to work and rely totally on my social security money. It is my money, after all. I put into social security for over forty years. The cost of food, electricity, gas and just about everything is costing me more. And yet the current administration is telling us that the cost of living is going down. Do they think we are stupid? I don’t know what bubble they are living in, but the politicians in Washington will be voted out if this insanity continues. Last night I had mayonnaise and bread for supper. Tonight it will be one egg. Will somebody in Washington please stand up and speak the truth? Retirees need a cost of living increase now!

  3. Marc H. Broner

    I’m in a wheelchair, due to disabling spinal injuries. I’m receiving no treatment, for me to recover. My wife can’t work, because I require her assistance. My disability, is our only income. We’re currently going 3 days a week, without eating, drinking only water. We’re slim, having no need, to lose weight. Our rent, phone, water, and electric, are going up, as of 1/1/10. Without COLA, we’re looking at going 4 days a week, without eating. We have no standard, of living. What this is, is attempted murder, by the Commissioner, of the SSA. He doesn’t worry, about eating every day, and yet, he gives himself the right, to stop us from eating. Also, giving Social Security recipients, another one-time payment, of $250, is an insult. That will not help us, and the Gov’t knows that. The bottom line is, the Gov’t, at city, county, state, and the federal level, couldn’t care less, about the disabled, because the wealthy lobbyists, are paying them, to toss us, into the trash. The Gov’t, doesn’t have to accept, the lobbyists millions, but they do. The disabled have earned the right, to have the monthly benefits, to eat every day, just as the Gov’t, and the lobbyists do. We have the right, to survive, even if they feel otherwise.

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