Question by capwest5a: Social Security benefits 2010 & Congressional salaries?
OK, well, yes I am on Social Security and today I just happened to be curious if there was going to be a small increase in benefits next year. That’s what usually happens (at least since 1975). It’s called COLA (cost of living adjustment). I wasn’t expecting much since last year’s COLA was 5.9% (largest increase in years). Guess what – every article I found says that it is unlikely that any COLA will be made to Social Security beneficiaries in 2010, and even possibly no increase in 2011 either.
The line of argument coming from the administration and Congress is that due to the economic downturn, there is no real inflation of prices happening, hence no need for a COLA. I don’t know where they shop, but things like milk, eggs, etc. seem to cost more and more on a monthly basis where I live (Seattle).
So, I’m just wondering, does anyone think that Congress will not pass their usual yearly legislation increasing their own salaries?
If seniors and disabled people don’t need a COLA and there is supposedly no inflation happening, why do Congress members need one either? Seems like a double standard.
Answer by Jan
You can bet that Congress will vote themselves a COLA. It is the first thing they do every year before taking on any important business.
I agree,there certainly has been an increase in everything we buy. Even though we won’t get a COLA this year,I can guarantee my rent will increase. With the increase in food and rent and no increase in my SS,I will be farther behind than I am now.
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2010, Benefits, Congressional, salaries, Security, Social