Social Security and the 2% joke

When Barack Obama boasts about how well his administration did, you can see for yourself with  the cost of living adjustment (COLA) increases for Social Security (S.S.) recipients.  If 2009 looks good, that is a reflection of the country's finances in 2008, the last year of the Bush administration.  Obama took office in January 2009, which is when the new COLA numbers started to run. Automatic Cost of Living Adjustments January 2009 – 5.8% January 2010 – 0.0% January 2011 – 0.0% January 2012 – 3.6% January 2013 – 1.7% January 2014 – 1.5% January 2015 – 1.7% January 2016 – 0.0% January 2017 – 0.3% January 2018 – 2.0% For the 66 million recipients' S.S. payments (which the government calls an "entitlement" but is actually a repayment of money we contributed) next year, the joke is on us.  There is no increase.  The government is taking the 2% back as an...(Read Full Post)

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