Heard on TV this morning:
"Due to no inflationary problems there will be NO Soc. Sec. benefit increase for Seniors for 2011."
I wonder who makes the decision on this one?
Evidently those who don't buy food, gasoline, booze of any kind, utilities,......
What have I forgotten?
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guess we might have to cut back on the food and gas to keep the booze flowing adequately.
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I understand keeping the SS payment steady for an occiasional yr, but to say we have no inflation is a pure lie. Utilities are up, med costs are up, tuition is up and God forbid, but beer prices are up. Milk, meat, and fresh veggie prices are up. The only thing not too bad right now is gasoline. Oh yeah, flour and rice are also up, clothing prices are up. Inflation is here and getting worse.
The SS Medicare fund is busted and 2011 is the year when the first batch of Baby Boomers retire, increasing the deficit.
SS Medicare have an unfunded liability of $84 TRILLION. To pay for this taxes would have to be raised 81%.
Its the same in England, the only difference is they are having to face up to their SS problems and cut benefits, while the US are trying to hide their funding problems for political reasons.
There is no statistical escape from bankruptcy or default, either open or through inflation, yet Congress pretends that this is not inevitable. Why? Because voters will remove from office any Congressman who tells the truth about what is statistically irreversible. The question today is the form that the bankruptcy will take: outright default, mass inflation, or a salami-slicing reduction of benefits benefits.
I'm not sure what the law says now, but I think we need to pass a new one that says every time Medicare recipients are deprived of their cost of living raises, congressmen have their wages reduced by double that percentage. That way we can begin to pay back what they've squandered. I don't believe for a minute that the cost of living didn't go up this year!!!
Of course the cost of living has gone up in 2010, and will no doubt continue going up in 2011!!!!!
Hello.....! They have practically nothing people absolutely have to have/can't do without, in the so called Core!
Bunch of Crappola!
but I think we need to pass a new one that says every time Medicare recipients are deprived of their cost of living raises, congressmen have their wages reduced by double
Love it. It makes perfect sense therefore it will never become reality.
The latest from the FRB is it is considering printing a whole bunch of new money to "fix" the economy. Naturally this will drive up inflation so not only will you not get a SS increase but the money that you do get will have less purchasing power.
Gee isn't this a cool way to fix the economy, we will just pay off all our debits with worthless dollars.
I never could see why congress gets their full salary for as long as they live after they leave office. Someone correct me if I'm wrong on that...but if I had any say in the matter, that would be the first change I would make, and the fastest way to save on government spending.
I never could see why congress gets their full salary for as long as they live after they leave office.
And lifetime health care too. I haven't found a minimum time in office where this rule doesn't apply. I read that one congressman was only in office for half term and still benefits from these entitlements.
I never could see why congress gets their full salary for as long as they live after they leave office. Someone correct me if I'm wrong on that...but if I had any say in the matter, that would be the first change I would make, and the fastest way to save on government spending.
Sorry Nightowl, but Congressmen dont continue to receive their salary on retiring. The average pension they receive varies between $60,000 and $35,000(2006 rates), for which they have paid 7.5%% of their salary into a combination of a retirement fund and the standard social security fund contribution.
NO Soc. Sec. increase for 2011!
Soc Sec for 2011
It makes perfect sense therefore it will never become reality.
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