For the first time since 1975 the will be no Cost Of Living Adjustment.
Under the law, Social Security payments are supposed to increase annually if U.S. Consumer Price Index increase. But over the past 12 months, prices have declined. The CPI-W the price index upon which Social Security adjustments are based on has dropped 1.7 percent since September 2008.
So it's supposedly cheaper to live now. OK on that logic I think congress should take a pay cut of 1.7 percent and there should a pay freeze for two years.
The Ranting & Ravings Of A Peripheral Visionary
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So...my SSI doesn't go up this year? I depend on that heavily. Wait... how is it cheaper this year than last? I'm not seeing that at the grocery store, that's for sure. Eggs have DEFINITELY gotten more expensive in the past 12 months. ARGH!
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