Thank you, ..... Obama, ..... Pelosi, ... Reed

WASHINGTON — Millions of retired and disabled people in the United States had better brace for another year with no increase in Social Security payments.

The government is projecting a slight cost-of-living adjustment for Social Security benefits next year, the first increase since 2009. But for most beneficiaries, rising Medicare premiums threaten to wipe out any increase in payments, leaving them without a raise for a third straight year.

http://www.ajc.com/news/nation-world/medicare-rise-could-mean-886907.html

Legislation enacted in 1973 provides for cost-of-living adjustments, or COLAs. With COLAs, Social Security and Supplemental Security Income (SSI) benefits keep pace with inflation.

No COLA
There will be no increase in Social Security benefits payable in January 2011, nor will there be an increase in SSI payments.

How is a COLA calculated?
The Social Security Act specifies a formula for determining each COLA. According to the formula, COLAs are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). CPI-Ws are calculated on a monthly basis by the Bureau of Labor Statistics.

A COLA effective for December of the current year is equal to the percentage increase (if any) in the average CPI-W for the third quarter of the current year over the average for the third quarter of the last year in which a COLA became effective. If there is an increase, it must be rounded to the nearest tenth of one percent. If there is no increase, or if the rounded increase is zero, there is no COLA.

COLA Computation
The last year in which a COLA became effective was 2008. Therefore the law requires that we use the average CPI-W for the third quarter of 2008 as the base from which we measure the increase (if any) in the average CPI-W. The base average is 215.495, as shown in the table below.

Also shown in the table below, the average CPI-W for the third quarter of 2010 is 214.136. Because there is no increase in the CPI-W from the third quarter of 2008 through the third quarter of 2010, there is no COLA for December 2010.


CPI-W for—
2008 2010
July 216.304 213.898
August 215.247 214.205
September 214.935 214.306
Third quarter total 646.486 642.409
Average (rounded to the nearest 0.001) 215.495 214.136


source

Aaron wrote:The social security COLA has nothing to do with Pelosi, Reid or Obama and it's pretty disingenious that you claim it is.

Did you express your appreciation for those payments?

If anything, as a social security recipient, you owe them a genuine debt of gratitude as they at least gave you a one-time payment when the COLA formula didn’t call for an increase

If the payments were owed as you claim Sam, why didn't the COLA formula give recipients an increase?

But the cost of goods and services didn't inflate Sam,

Food CPI and Expenditures: Analysis and Forecasts of the CPI for Food

The CPI for all food increased 0.4 percent from January to February 2011, increased 0.9 percent from December 2010 to January 2011, and is now 2.3 percent above the February 2010 level. The food-at-home CPI increased 0.6 percent in February 2011 and is up 2.8 percent from last February, while the food-away-from-home index was up 0.2 percent in February 2011 and is 1.6 percent above last February. Recent food commodity price increases, along with grocery store price increases over the past few months, have pushed ERS's forecasts for food-at-home inflation up to 3.5 to 4.5 percent for 2011. The all-items CPI was up 0.5 percent in February and is 2.1 percent above the February 2010 level.

Beef prices increased 1.9 percent in February and are 10.8 percent above last February, with steak prices up 11.2 percent and ground beef prices up 9.9 percent. Pork prices increased 1 percent in February and are 8.9 percent above last February’s level. Poultry prices increased 0.5 percent in February and are 2 percent above prices last year at this time, with chicken prices up 1.3 percent and other poultry prices (including turkey) up 5.1 percent. As commodity prices and input costs have risen over the past 9 months, beef and pork prices are now significantly higher than in 2010. Increased inflation for beef and pork products is expected in the first half of 2011, as reflected in ERS's forecasts—beef prices are now projected to increase 4.5 to 5.5 percent and pork prices 6 to 7 percent in 2011.

http://www.ers.usda.gov/briefing/cpifoodandexpenditures/consumerpriceindex.htm

I see you have to resort to weasel wording Sam

Aaron wrote:Which question made no sense? The one that said if the CPI increases and you get an increase in your COLA, should you have to take a decrease when the CPI deflates.

SamCogar wrote:

Aaron wrote:Which question made no sense? The one that said if the CPI increases and you get an increase in your COLA, should you have to take a decrease when the CPI deflates.

Aaron, get off the wacky tobacca, meth, Spectator Sports, bath salts, booze, Bible or whatever the hell it is you have been over indulging in that has really corrupted and/or rotted your mind.

SamCogar wrote:My guess is that the culprit is Spectator Sports.

SamCogar wrote:You know damn well which question made no sense because I quoted it to you in my post.

SamCogar wrote:It has become apparent to me that you think is a Sports competition or a Pissing Contest and you are intent on winning the Blue Ribbon in every event.

SamCogar wrote:If you are going to persist in acting like a mouthy wise ass juvenile delinquent then go run with your boys and their friends and quit making yourself a nuisence to me on this Forum.