Quote:
Originally Posted by Jess
I know in this area, utility costs alone have increased by double digit percentages in the past two years. Added to the loss by many of their retirement funds with the big crash, the cost of living DID go up, or at the very least, the availability of funds other than Social Security benefits.
I'm not sure which "consumer prices" didn't increase, perhaps they are basing the numbers on all of the marked down prices companies are offering due to the economy and unemployment.
I don't think that $250.00 is gonna solve anything, the COLA should have been passed and not passed over with a band-aid being dangled instead.
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Actually, the $250 was fairly close to the equivalent of the median (I think it was median, might have been average) COLA increase from the year before, so it did 'solve something'.
Income losses due to the market crash aren't costs of living, they're sources of income. It's like when Walmart cuts your hours, it's not an increase in your costs, it's a decrease in your income. Vote republican and you can look forward to more income slashing as social security moves to the stock market.
COLA uses CPI-W. Here's a link where you can learn about what that entails, and you can google for more information. I find that researching something about which I am curious is more fruitful than just wondering about it.
linkyloo