The Truth:
The Social Security
Administration (SSA) made the announcement on Thursday, October 15, 2009 that
there will be no cost of living increase in 2010. This will be the
first time in 34 years that Social Security recipients will go without a
cost of living increase.
Click
for SSA site.
In May of 2009, The
Henry J. Kaiser Family Foundation predicted that no COLA increase would
be issued for 2010 in
their Medicare questions and answers page on their web site.
Click for for Kaiser
statement
Each year, since 1975, the Social Security
Administration (SSA) has had increases to general benefits called "Cost
of Living Adjustments" or "COLAs". On October 16, 2008
the SSA calculated a 5.8-percent COLA for recipients.
According to an
October 14, 2009 Associated Press article, in response to the SSA
decision, President Barack Obama called on Congress to approve a $13
Billion bill to send $250 payments to more than 50 million seniors on
Social Security, those receiving veterans benefits, disability benefits,
railroad retirees and retired public employees who don't receive Social
Security.
Click
for article.
Recipients who might qualify for more
would only be limited to one payment.
Updated 10/15/09
