Social Security Administration Says No Cost of Living Adjustment in 2011

by Hugh Collins Oct 15th 2010 8:58AM
There will be no cost-of-living adjustment in Social Security payments for 2011, the second straight year without an increase.

The Social Security Administration said today that inflation is too low to justify a boost. The decision will affect more than 58 million retirees and disabled Americans.

"We're a little bit upset because our bills are going up and our Social Security isn't," Betty Dizik of Tamarac, Fla., told the AP.

Dizik, a retired tax preparer and social worker, said her only income is a $1,200 monthly payment from Social Security.

"Seniors who rely on their modest Social Security payments need these cost-of-living-adjustments for their day-to-day survival," said Rep. Earl Pomeroy (D., N.D.) said Thursday, according to The Wall Street Journal.

The House is expected to vote next month on a bill to provide an extra $250 payment. Still, even if the House passes the bill, it will likely face opposition in the Senate.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »
View All Courses

Add a Comment

Sign in »
*0 / 3000 Character Maximum

55 Comments

Filter by:
smithbobbyj

smithbobbyj CONGRESS CAN GIVE AND BAILOUT THE BIG GUYS BUT NOT US---SSI.THEY CAN ALSO GIVE THEMSELVES BIG INCREASES, WHILE WE TRY TO SURVIVE. ANYONE WATCH JESSE VENTERA SHOW? WATCH IT, MAKES YOU THINK. AMERICA IS TO NIEVE,,,,,,,,,

November 15 2010 at 3:51 PM Report abuse rate up rate down Reply
qaqs9000

The middle class shall rise again. It may require a bit of Republican blood to get the job done but can they really expect us to sit back and watch America go down the drain while they pad their fortunes on the back of the American middle class worker. We had to rise up and Unionize once and the time has come again to show we can do it if we must. We need to admit the Republicans have declared class warfare and intend to make us serfs and our children and grandchildren. I for one have had just about all I will endure.

October 19 2010 at 2:23 AM Report abuse rate up rate down Reply
Dave Nash

How much did the Liar's in Congress get for a raise this year, would be a better question. I would venture to say that it would be more than any senior would see in their lifetime of social security. These folks, my mom and dad included, were hounded by the IRS and SSA to pay their "fair share", just to be denied a basic raise,that would offset the rise in medicare... DUH !! What about that cost of living thing you bunch of arrogant, self serving jerks, in Congress PROMISED.... I'm pretty p.o.'d with the whole lot of you, oh by the way, I "retire" in 6 years (yea right).... Guess my vote in November is going to be Anti-Demoncrat...... Oh, by the way, as a "Retired Veteran", I didn't get a cost of living adjustment either for this year or next, but the congress "saw fit" to raise my deductable for my meds from the VA...... There's YOUR CHANGE, less of it in "YOUR" pocket....

October 18 2010 at 7:57 PM Report abuse +1 rate up rate down Reply
krs

You know what is sad about all this. The President and the Pelosi-Reed gang in congress decided this but their enablers and fans like the AARP will keep shilling for them and donating to them and many of us 58 million Seniors will KEEP VOTING FOR THEM. We sit and gripe and then turn around and keep them in power because they will tell us "No cost of living for 2010 and 2011, but if you let the Republicans in they will take SS away from you altogether. Of course this a bald face lie, but they have been telling this lie for so long the people now believe it as true.

October 18 2010 at 3:35 PM Report abuse +1 rate up rate down Reply
elnpet

Absolutely right. Not only that but now we have to pay into Medicare for coverage of drugs. The price of our drugs have gone up to 2 dollars a hit. More than any of us can afford. Thank you Barack Obama and friends. Congress already owes Medicare trillions of dollars from pork barrelling which we will never see. No matter what congress will always give them selves a raise and just did for over 3 %. What is this any ways ? We work all of our lives and get the shaft in the end. We need a newpresiden and friends plus congress. Any onne who votes in Barak or Polosi and Reid will get just what they deserve. Because if you do by next year we will be a their world country, if we are not one by now. Thank you Barak. I just love your change and hope deal. Really helped us a lot. how much of a raise did you get ?

October 18 2010 at 12:11 PM Report abuse rate up rate down Reply
pllove49

Unreal...don't want to give them anything and always someone out to take what little they get or might get...

October 18 2010 at 9:47 AM Report abuse +3 rate up rate down Reply
cmhstnick

YEAH...................... the poor retired people don't get a raise , and these people need the money , but sure congress and the senate vote them selves a 3 to 5% raise Bunch of self serving dirt bags , this country is in serious financial shape and these idiots vote them selves a raise ??? Come on people !!!! wake up !! we are no longer in any kind of control these people (???) used to work and answer to us , now they dictate your life !! WAKE UP IDIOTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

October 18 2010 at 6:13 AM Report abuse +5 rate up rate down Reply
bdbflash

I bet they will raise medicare payments again saying inflations has driven it up higher.. Think we all need to wake up and smell the stench coming out of Washington. Lets make sure these crooks get what they deserve stealing money from the social security system to pay for other things is not only criminal but a insane way to run the country . If I don't have the money to buy something then neither should our government .

October 18 2010 at 3:51 AM Report abuse +6 rate up rate down Reply
honey/vinegar

Let's see...Obama wants to give those receiving Social Security a one time payment of $250.00. Well, that amounts to around $4.60 a week. That's funny!!! It won't even pay for the medicare deductable on one of my meds. BTW, didn't the article state the one payment probably would be voted down? Good looking out for us Washington!

October 17 2010 at 10:01 PM Report abuse +7 rate up rate down Reply
bcgme

What a joke! Private corporations are are all walking with giant bonus;s in their pockets, my rent is raised every year anywhere from 5 - 8 percent, gas prices are over $3.00 where I live. They just raised the public transportation fares every year for the last 3 years at 25 cents a year for a one time ride up from $2.25 to $2.50.. Food prices where I live are up. so tell me my cost of living is not increasing? Screw U ! Yes stop giving our monies to other countries feed us first! Lets get that Isolationist thing going and bring all our production back to the USA. Something wrong when construction force of 310 million strong and only 7 million working. OBAMA WAKEUP AND SMELL THE GARLIC!

October 17 2010 at 9:38 PM Report abuse +6 rate up rate down Reply