For the second year in a row, the SSA will offer no cost-of-living adjustment
for Social Security and SSI beneficiaries in 2011. The COLA is determined by comparing the change in the Consumer Price Index (CPI-W) from the third quarter of 2008, the last year that a COLA was determined, to the third quarter of 2010. As there was no increase in that period (unlike the change from 2008 to 2009, which
was 5.8 percent, the largest increase since 1982), the SSA declined to grant a cost of living increase.
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It makes sense since the dollar was facing more deflation than inflation last year. Since the dollar is expected to inflate this coming year, there should be COLA for the next year.
ReplyDeleteGovernment should provide Cost of Living Increase for Social Security Beneficiaries.
ReplyDeleteCost of Living Increase is necessary for for Social Security Beneficiaries.
ReplyDelete