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No S.S. increase again!!!!

Anyone that thinks the cost of living did not go up this year should check my grocery bill..................

same here !!!! if your state didn't vote for Osama your sh** outta luck
 
Anyone that thinks the cost of living did not go up this year should check my grocery bill..................

same here !!!! if your state didn't vote for Osama your sh** outta luck

The cost of living in the U.S. dropped in May for a second month, signaling the world’s largest economy is recovering without causing prices to flare.

Retailers such as Wal-Mart Stores Inc. are cutting prices to bolster sales as customers face almost 10 percent unemployment and rising foreclosures. The lack of inflation gives Federal Reserve policy makers scope to leave the benchmark interest rate near zero in coming months and help invigorate the economy.

“Companies right now really don’t have any pricing power,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, who accurately forecast the drop in the consumer-price index. “It still provides the Federal Reserve a great deal of leeway.”

Consumer Prices in U.S. Fell for Second Month in May (Update1) - BusinessWeek
 
They announced there would be no increase for last year or this year in Oct 2009.............Don't make it up as you go Redress............I know it affects me and I keep up with it..........

Then show where they said it Navy.
 
the math. a 1.3 trillion deficit. that sit ok with you???

also recognize that deficit is reduced $125 billion from the prior year
which indicates we are moving in the right direction
but your side wants to give billionaires tax breaks, and somehow expects that to happen without running a deficit, while also refusing to curtail military spending

misguided math illiterate neocons want to halve their cake and eat it, too
 
Actually I sourced my claim, something you have singularly failed to do. Are you denying that the CPI has not increased in the last year? Are you denying that SS COLA is tied to CPI? DO you have any data that the CPI is wrong you can present? That is how we work around here, if you make claims, you are expected to be able to back them up with more than "because I said so".

Please show a statistic that the CPI did not go up. It may not have gone up much but it did go up.
 
also recognize that deficit is reduced $125 billion from the prior year
which indicates we are moving in the right direction
but your side wants to give billionaires tax breaks, and somehow expects that to happen without running a deficit, while also refusing to curtail military spending

misguided math illiterate neocons want to halve their cake and eat it, too

misguided illiterate liberal lug nuts will have no cake to eat

In NY Times Magazine interview, regretful Obama admits his policies are failures

In the upcoming New York Times Magazine interview, Barack Obama has admitted that his policies are failures. More specifically, he has lamented his embarrassing failure surrounding his deficit-increasing stimulus, their shovel-ready projects, and the painfully insufficient amount of "tax cuts" that he included in Americans’ paychecks (so small, no one felt them). In the interview in New York Magazine, a liberal reporter spent an hour with Obama, talking to him about his first two years in office, and, unexpectedly, Obama sounded very introspective, defeated and full of regret. His self-defeating comments are good news for Republicans who instantly seized on choice quotes to release uncomplimentary press releases that pointed out Obama’s hypocrisy. At the same time, some Democrats were left feeling even more frustrated than ever, essentially complaining that Obama had made it even harder for them in the already adverse midterm election climate.
source
 
also recognize that deficit is reduced $125 billion from the prior year
which indicates we are moving in the right direction
but your side wants to give billionaires tax breaks, and somehow expects that to happen without running a deficit, while also refusing to curtail military spending

misguided math illiterate neocons want to halve their cake and eat it, too

Not sure what you are saying. First it seems you are saying that the 2010 deficit was good becuase it was lower than 2009, then talk about tax increases for upper middle income people and higher to reduce the deficit.

As an example the 2010 deficit of $1.3 trillion means that my son's generation has to pay $65 billion a year (5% interest rate) forever because we refused to pay for what we used.

I wish both sides would see how amoral this is. Whether you cut spending or raise taxes, while I might like one more than the other, I really do not care. Stop spending for things you are not willing to pay for.

BTW the tax on the top earners is a B.S. arguement for this reason. The taxes supposedly raised would be $30 billion in 2011, which makes hardly a dent on the massive deficit we have.

People are angry because raising this as a be all end all issue makes it seem that you think that they are stupid enough to believe it. Same goes for the other side which talks to cutting waste, fraud and abuse which we have been saying for 30 years.
 
Then show where they said it Navy.

Redress it was all over DP last year when they put out the word that the would be no raise in 2009 or 2010...............I bitched about it then and I am doing the same now.............I am fighting the good fight against liberalism on 3 or 4 threads and I don't have time to post something that has been posted a dozen times..........If you don't believe it then that is up to you........
 
Redress it was all over DP last year when they put out the word that the would be no raise in 2009 or 2010...............I bitched about it then and I am doing the same now.............I am fighting the good fight against liberalism on 3 or 4 threads and I don't have time to post something that has been posted a dozen times..........If you don't believe it then that is up to you........

So it should be easy for you to find. Let's see it.
 
So it should be easy for you to find. Let's see it.

Here is something to prove they cancelled and COLA raise way before the end of the FY which is 30 Sept.............

No raise for those on Social Security

Social Security trustees in May projected a zero increase for 2010 and 2011 because it appears unlikely that the cost of living will return to its July-August-September 2008 average for about two years.
 
Here is something to prove they cancelled and COLA raise way before the end of the FY which is 30 Sept.............

No raise for those on Social Security

Social Security trustees in May projected a zero increase for 2010 and 2011 because it appears unlikely that the cost of living will return to its July-August-September 2008 average for about two years.

From your source:

For the first time since Congress approved automatic cost-of-living increases in Social Security benefits in 1973, the increase for 2010 will bezero. It might be zero for 2011, too.

So at that point, it was unknown what the 2011 COLA would be, which is what we are discussing.
 
Meanwhile the military will get theirs (or we'll get ours - since we're military) since that comes to a Congressional vote every year.

The disparity of which I disapprove of strongly.
 
Here is something to prove they cancelled and COLA raise way before the end of the FY which is 30 Sept.............

No raise for those on Social Security

Social Security trustees in May projected a zero increase for 2010 and 2011 because it appears unlikely that the cost of living will return to its July-August-September 2008 average for about two years.

Redress Maybe in your house the Cost of living has not gone up but it sure as hell has in the rest of ours........
 
Here is something to prove they cancelled and COLA raise way before the end of the FY which is 30 Sept.............

No raise for those on Social Security

Social Security trustees in May projected a zero increase for 2010 and 2011 because it appears unlikely that the cost of living will return to its July-August-September 2008 average for about two years.


Exactly!! I gotta agree with you here Navy. There should be a Constitutional Amendment which requires the government to pass a budget only after all the facts and changes for that year have been observed and not speculated on.
 
Redress Maybe in your house the Cost of living has not gone up but it sure as hell has in the rest of ours........

Except that it has not significantly(~1 %) in the majority of the country, and the automatic system set up that means no COLA. You where wrong about your claim that the 2011 COLA was announced last year, and you are wrong that CPI has gone up.
 
Its attitudes like that this that remove my faith that the new conservative uprising (tea party) is going to have any impact on federal spending.
 
I'm surprised no one commented on my post earlier. THIS is the problem with Social Security. Not that the government hasn't put the money in a so-called "Lock Box" or anything else.

The system is based upon actuarial fantasy. I'm looking at Tom's latest Social Security Account Statement. Here's the deal:

He and his employers have paid a total of $27,841 into the Social Security system.
At his age 66, he will begin to collect $2,020 per month. His life expectancy at age 66 is 12.8 years. http://www.cdc.gov/nchs/data/hus/hus08.pdf#026
Within 14 months he will have collected every nickle put into the system on his behalf.
If he lives the 12.8 years the averages predict, he will have collected $310,272.

Fund that on $27,841 in contributions!!!

A $28,000 annuity in the "real world" would purchase (at an investment rate of 10%!!) a monthly benefit of around THREE HUNDRED DOLLARS not the $2,020 benefit Tom will receive. See a problem? People on Social Security should be thanking their lucky stars, not complaining about no COLA.

No one "gets that?" Really?

I can't even believe this. Possible I'm doing something wrong?
 
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you're forgetting the power ofthe entitement mentality.
 
I'm surprised no one commented on my post earlier. THIS is the problem with Social Security. Not that the government hasn't put the money in a so-called "Lock Box" or anything else.



A $28,000 annuity in the "real world" would purchase (at an investment rate of 10%!!) a monthly benefit of around THREE HUNDRED DOLLARS not the $2,020 benefit Tom will receive. See a problem? People on Social Security should be thanking their lucky stars, not complaining about no COLA.

No one "gets that?" Really?

I can't even believe this. Possible I'm doing something wrong?

I was not able to find your anecdote in the document you cite. Not sure how someone who only put $28K into the system gets $2k per month. But like a lot of stuff I see on this site it is more about gottya than facts.

So let's look at facts. I have not kept up with the rates but SSN costs the employee about 7.5-8% and the employer the same. Payment goes until about $110K. So in someone like my example the total paid to SSN would be about $17K annually. Now those numbers have gone up. So let's say someone who is about 65 would have paid into the system ( him and his employer) after having worked 40 years something like $250K. Also assume that during that period of time the money was invested in U.S. 10 year treasuries which have had an average rate of about 5%. This means that a dollar invested 14 years ago would have doubled.

So why should this not be considered an annuity? Sure lifespans have increased. So have payments into the system. This probably should be adjusted more frequently, but politicians are lousy pension managers. As many at the state and local level are finding out.

So it might be fun to point out an anomoly, but should nit be considered serious discourse.
 
you're forgetting the power ofthe entitement mentality.

Not worthy of a comment. I doubt you will ever have worked as many hours as I have.
 
I was not able to find your anecdote in the document you cite. Not sure how someone who only put $28K into the system gets $2k per month. But like a lot of stuff I see on this site it is more about gottya than facts.

So let's look at facts. I have not kept up with the rates but SSN costs the employee about 7.5-8% and the employer the same. Payment goes until about $110K. So in someone like my example the total paid to SSN would be about $17K annually. Now those numbers have gone up. So let's say someone who is about 65 would have paid into the system ( him and his employer) after having worked 40 years something like $250K. Also assume that during that period of time the money was invested in U.S. 10 year treasuries which have had an average rate of about 5%. This means that a dollar invested 14 years ago would have doubled.

So why should this not be considered an annuity? Sure lifespans have increased. So have payments into the system. This probably should be adjusted more frequently, but politicians are lousy pension managers. As many at the state and local level are finding out.

So it might be fun to point out an anomoly, but should nit be considered serious discourse.

As you note by my post, even I couldn't believe the numbers. So I double-checked. I'd accidentally picked off that $28,000 figure from what he's paid into Medicare. My VERY bad. Actually, the numbers are as follows:

Total employer/employee contributions = $119,499. (Triple oops.)
A $120,000 12.8-year annuity at 10% in the real world would provide him with a monthly income of $1290 rather than the $2020 he'll receive. That makes more sense. Excuse my SNAFU.

While it's "closer," one can easily see why the system is destined to be bankrupt.

As to a source for my post, Wash, here's the Annuity Calculator. http://www.moneychimp.com/calculator/annuity_calculator.htm
 
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