Social Security Benefits Not Expected to Rise for nearly three years
Social Security Benefits Not Expected to Rise in ’10 - NYTimes.com So the Congressional Budget Office has predicted that for the next two years , people who receive social security benefits will receive no increase at all, and a very small increase in the third year. This means that the amount of money I receive now from my social security disability payment will remain the same at least until the year 2012 and then only rise by a few dollars in 2013: Douglas W. Elmendorf, director of the Congressional Budget Office, predicted that inflation would remain low for several years, so Social Security might not pay a cost-of-living increase until January 2013. President Obama ’s budget assumes no increase in 2010 or 2011, then a 1.4 percent COLA in 2012. Could you imagine earning the same exact wage for three consecutive years in a row? The economy is supposedly supposed to be recovered from this "recession" that we're in by the end of this year. If that's the case, then ...