Don’t Count on Future Social Security Increases

Reader Comments

Back to blog

I recently heard that President Obama made the comment "don't plan on any cost of living allowance" for Social Security recipients next year -

Is that because there's is no cost of living increase projected ? I find that difficult to comprehend - virtually every single item I purchase at the grocery store has increased in price every few months this year - and I believe we had more months of $ 4.00 gasoline than we have had $ 2.50 a gallon gas -

-OR- has our President found a way to discontinue the SS COLA - If YES, then it's my viewpoint that high-ranking government employees - President Obama included, should be social security recipients along with the rest of us american citizens - and while we're at it - they should also be required to participate in whatever provider care requirements are imposed upon us in the health care reform bill that the President is trying to cram down our throats.

I guess all the time President Obama lived and worked in Chicago, he never heard the likes of Milton Friedman, a renowned professor of economics at the University Of Chicago - or studied his methodologies - FREE ENTERPRISE - a dollar earned by an employee in the private sector will improve the revenue of 20 or more other private sector enterprises - in case he doesn't get it - i get my paycheck - then I spend it at the grocery store, the gas pump, barber shop, pay my mortgage (oops some of those financial institutions aare now government owned) - would appreciate feedback if revisions to COLA are voted upon by congress

Robert White of TX 4:31PM July 27, 2009

How can Obama withhold our SS annual increases without the approval of Congress?

B Niemann of TX 9:39AM July 25, 2009

I am not suprised.

I worked from the time I was 10 years old, and yet all I get is bare boned short of $700 per month because government kept telling me I was not QUALIFIED, then after 8 years of fighting with the government I finally get a judge who tells SS that I should have qualified 8 years earlier.

Then I get a check and sign it and deposit it in the bank. No one told me that signing the ment I was agreeing that SS had now paid me everything I was owed and that I would not get anything else, but apparently that is how it is.

You see I get less than $700 per month because my so-called work-credits had expired in the meantime, so instead of getting my $1400.00 per month I get HALF of what I am supposed to be getting... and I keep falling further and further behind.

I lost my home and even ended up behind bars, not because I am a criminal but because the government is the criminal!

What precisely was I paying into since I was TEN YEARS OLD???

Apparently NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Paul of MN 3:37AM July 19, 2009

I am retired on Social Security Diasbility and have no retirement monies put aside because I had to use them to support myself and my wife and daughter after I was severely injured and had to fight Workmens Compensation for benefits. Everything but My income which I paid for for 35 years of work is now in the hans of our so called "REPRESENATIVES" in Washington. God help us because most of us will have to do the unthinakable and declare bankruptcy and lose everything we have worked all our lives for. P.S. Congress and Senate this alternative will only incresae the banking and real estate problems. Why don't you use you heads and make the wealthy and the cash laden businesses put up or shut up.

Douglas Smith of MD 6:45PM July 17, 2009

Well, what do you expect when you elect an affirmative action Marxist/Socialist/Communist who hides his birth certificate and school records and has so little valuation on life that his first act as POTUS is to sign the bill sending our money overseas for abortions????? If you think no cost of living increase is bad, wait until the nat'l health care act becomes law and you're moved to the back of the line for life-saving transplants so that those illegals get them instead of you! The fools who elected this horrible, horrible "man" are as horrible as he is.

I'm afraid our country is gone. Oh, and don't forget the cap and trade bill. Prepare yourselves for $600 utility bills. It won't stop and it won't end. These people got their foot in the door. As Ronald Reagan once said, "...a government bureau is the nearest thing to eternal life we'll ever see on this earth."

Nancy Tannenbaum of TX 3:06PM July 16, 2009

Aren't we happy we put the democrats in power...now we reap our reward

george bourque of FL 7:31PM June 23, 2009

during 45years i paid for my social security benefits i am 77 years old , are you telkling me that in 2010 i wont get any cost of living increases..,.answer me... thank you

francisco banos of FL 8:33PM June 21, 2009

Am I to believe that because of illegal immigrants, I will have to live in my car or with my children who have small children and I am not able to work? I get $850 a month...How can I live? Am I paying for immigrants when I have been born and raised in the United States and worked hard while I could? Dear God have mercy on our country and on senior citizens who are trying to buy food and just live. Dear God please help us.

Virginia Pritchard of IN 11:58PM June 18, 2009

SOCIAL SECURITY ANNUAL COST OF LIVING INCREASE SHOULD BE LOWER ON HIGHER BENEFIT AMOUNTS AND AS THE BENEFIT AMOUNT IS HIGHER THE CNCREASE SHOULD BE LOWER. DISCONTINUE PAYMENTS TO THOSE WHO CONTRIBUTED NOTHING. IF CANNOT DISCONTINUE THEY SHOULD REPORT TO THE SOCIAL SECURITY OFFICE EVERY THREE MONTHS TO MAKE SURE THEY LIVE IN THE UNITED STATES.

Ittycheria Abraham of NY 9:06PM May 24, 2009

Eliminate payments to those who have contributed nothing into the system. e.g., immigrants who arrive here and are older than 65 years and immediately apply for social security benefits. Payments to resettling immigrants so they can get adjusted. All migrating individuals should be required to have a sponsor who accepts fiscal responsibility for them until such time they can support themselves. Eliminate SSI for any able bodied person who is unwilling to seek employment. Require drug testing for everyone on SSI unless that person is so disableled that he/she cannot work. A failed drug test would result in immediate ineligibility for SSI.

Robert Remillard of CA 11:17AM May 20, 2009

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

Back to blog

Planning to Retire

Senior editor Emily Brandon tells you how to get ready financially for retirement and to make your golden years the best they can be.

advertisement

Our retirement readiness calculator will provide a rough idea of how long your retirement savings and income will last.


advertisement