Social security COLA

The friendliest place on the web for anyone with an RV or an interest in RVing!
If you have answers, please help by responding to the unanswered posts.
See posts with no answers
Ray D

Ray D

Well-known member
Joined
Jun 4, 2006
Posts
1,963
Location
Boise, Idaho
HUH?  ???

Add no COLA for SS folks for three years minimum
Click to expand...
:mad:

Maybe I'm reading that wrong.
COLA - - Cost Of Living Adjustment?
SS folks - - Social Security?
Have I missed a big news item? Care to elaborate a little? Thanks!

I appreciate your battery expense issue, and, more than that, am in a similar boat. It appears I am about to have to replace either 2 or 4 automotive size gel-cells in our PMVs (Scooters.) The cost of  those things is astonishing! Plan to look for alternative sources, soon. Hence the interest in this thread. I don't mean to hi-jack your thread, as I have an interest in the battery issue.

Thanks, in advance, for the clarification.  :-\

Ray D  :-\
 
Ray D said:
HUH?  ???
:mad:

Maybe I'm reading that wrong.
COLA - - Cost Of Living Adjustment?
SS folks - - Social Security?
Have I missed a big news item? Care to elaborate a little? Thanks!

I appreciate your battery expense issue, and, more than that, am in a similar boat. It appears I am about to have to replace either 2 or 4 automotive size gel-cells in our PMVs (Scooters.) The cost of  those things is astonishing! Plan to look for alternative sources, soon. Hence the interest in this thread. I don't mean to hi-jack your thread, as I have an interest in the battery issue.

Thanks, in advance, for the clarification.  :-\

Ray D  :-\
Click to expand...

I guess you have.  It came out in the news today that Social Security folks will not have any COLA increase for at leaast the next three years and then a max of 2 1/2% for the next few years after that - maybe.

You might want to check a thread I started ( because I didn't want to hijack this thread either) in General Discussion about Battery Life Saver.  I don't know if it would help you, but it might help me.
 
sheltie said:
It came out in the news today that Social Security folks will not have any COLA increase for at leaast the next three years and then a max of 2 1/2% for the next few years after that - maybe.
Click to expand...

Can you give us an actual reference to the COLA increases for the next three years? I can't find any mention of this on the SS website.

Thanks.
 
RLSharp said:
Can you give us an actual reference to the COLA increases for the next three years? I can't find any mention of this on the SS website.

Thanks.
Click to expand...

Sorry, I can't remember where I saw it.  I thought it might have been on TV news, but then I remembered reading it to my wife at the time.  So I guess it must've been either in a newspaper, or more likely on msn.com.  I'll keep looking.  I also read where civilian government employees will be getting a raise but it said nothing about military getting one.  I'm certainly interested in that as well.
 
Since the Cost of Living Index is calculated for each year as it occurs, there can be no advance calculation of the SS COLA for future years unless Congress changes the law to eliminate COLA for SS. The last calculated and publicized SS COLA was in October, 2008, for 2009 and current SS checks are based on that. The next COLA calculation will be in October, 2009 for calendar year 2010.

On the other hand, it does not take a rocket scientist to project that the Cost of Living Index will stay flat or head down if the economy stays as is, so it is unlikely there will be much, if any, SS COLA increase in 2010. In theory the SS COLA adjustment could even be negative, but I suspect that that would be politically unacceptable and Congress would act to prevent it.
 
OK, I just did a two second check on Google about the SS issue and there is plenty on it.  Here is the first link.  http://www.azstarnet.com/sn/fromcomments/286875.php
 
RV Roamer said:
Since the Cost of Living Index is calculated for each year as it occurs, there can be no advance calculation of the SS COLA for future years unless Congress changes the law to eliminate COLA for SS.
Click to expand...

Gary,

That is exactly why I asked to see a reference to the "no change" in the COLA. I have never heard of it being calculated or even officially estimated so early in the year. I also agree that there won't be much of a change for the next couple of years, but would like to have seen it from some official source. I spent quite a bit of time digging around on the S.S. website and couldn't find any mention of it.

Edit: When I posted the above message, I realized that the topic is "Exide - Sentenial 6v batteries." Perhaps we need a new thread. RLS
 
sheltie said:
OK, I just did a two second check on Google about the SS issue and there is plenty on it.  Here is the first link.  http://www.azstarnet.com/sn/fromcomments/286875.php
Click to expand...

Thanks Sheltie. If I hadn't dorpped our subscription to the Arizona Daily Star, perhaps I would have seen the article in the paper. Doesn't look too good for retirees.
 
I haven't read the related links but I pretty much know what they say. Some beancounter is just basically predicting that we won't see a COL increase because inflation will be no-existent. This is most likely "smoke and mirrors" typically played by politicians who want to look good and convince us that they can balance the budget.

In one of the articles I read, it stated that last year's Inflation Rate was like 0.1%; yet, we received the largest COLA in almost 20 years, at 5.8%.

Thing is SS's COL Adjustment is based only on the last threee months of the years, that is, the inflation rate that is experienced and reported for July, August, and September. Last year was one of those "fluke years" where it actually benefitted us in a generous manner; the previous year was not so kind.

So, long and short, unless Congress changes the way COLAs are calculated and when they're calculated, we do not need to worry about today's numbers, only those that come in the last three months of our gov't Fiscal Year.

BTW, I'll take a "zero COLA," if I am convinced that Inflation is also ZERO!
 
herd said:
I haven't read the related links but I pretty much know what they say. Some beancounter is just basically predicting that we won't see a COL increase because inflation will be no-existent. This is most likely "smoke and mirrors" typically played by politicians who want to look good and convince us that they can balance the budget.

In one of the articles I read, it stated that last year's Inflation Rate was like 0.1%; yet, we received the largest COLA in almost 20 years, at 5.8%.

Thing is SS's COL Adjustment is based only on the last threee months of the years, that is, the inflation rate that is experienced and reported for July, August, and September. Last year was one of those "fluke years" where it actually benefitted us in a generous manner; the previous year was not so kind.

So, long and short, unless Congress changes the way COLAs are calculated and when they're calculated, we do not need to worry about today's numbers, only those that come in the last three months of our gov't Fiscal Year.

BTW, I'll take a "zero COLA," if I am convinced that Inflation is also ZERO!
Click to expand...

Actually, you'll "take" a zero COLA if the Guvmint says you will!! ;D
 
Here is the official SSA COLA estimate for 2010 and 2011, showing a positive number. It's actually three estimated numbers, using three different sets of assumptions about what may happen over the 12 month period.  I suspect the numbers would be lower now, given what has happened since the estimate was made 6 months ago.

It also says the COLA is calculated from the average CPI-W [Consumer Price Index - Urban and Clerical Workers] for a 12 month period, Oct - Sept.

http://www.ssa.gov/cgi-bin/bri.cgi
 
QUOTE:: "Actually, you'll "take" a zero COLA if the Guvmint says you will!! "

Sheltie, Of course you're right, what I meant was that I will gladly accept a  zero COLA if there's no inflation.
 
Gary and Herd are absolutely correct and I too won't belly ache if inflation is flat resulting in zero COLA. Rest assured, however, the main-stream media will be weeping all over town and producing stories that some Senior Citizen is being deprived. Happens every year! (At 80, I are one--S.C, that is)

 
You must log in or register to reply here.

Latest posts

Members online

Total: 653 (members: 9, guests: 644)

Forum statistics

Threads
131,954
Posts
1,388,147
Members
137,707
Latest member
Opal6502
Back
Top Bottom