Thursday, October 15, 2009

No COLA for Seniors But $250 Payouts Instead?

I've seen some people say that Obama is taking away seniors' social security.
No. No. No.
Social Security checks won't see an annual cost of living adjustment (COLA) because COLA is tied to inflation and inflation is negative (see inflation rate chart here).
Obama doesn't have anything to do with raising or lowering COLA. Obama is proposing $250 payouts to seniors, which would amount to about a 1.8% increase.
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