Social Security recipients get 2.3 percent raise

[dajoki]

Social Security recipients get 2.3 percent raise
Average monthly check to increase by $24, smallest rise in four years
Updated: 18 minutes ago
http://www.msnbc.msn.com/id/21341970/

WASHINGTON - Come January, Social Security benefits for nearly 50 million Americans are going up 2.3 percent, the smallest increase in four years. It will mean an extra $24 per month in the average check, the government announced Wednesday.

The cost of living adjustment means that the monthly benefit for the typical retired worker in 2008 will go from $1,055 currently to $1,079 next year.

The adjustment, announced by the Social Security Administration, will go to more than 54 million Americans. Nearly 50 million receive Social Security benefits and the rest get Supplemental Security Income payments aimed at helping the poor.

The adjustment, announced by the Social Security Administration, will go to more than 54 million Americans. Nearly 50 million receive Social Security benefits and the rest get Supplemental Security Income payments aimed at helping the poor.

The 2.3 percent increase is the smallest since a 2.1 percent rise in 2004. It compares to an increase of 3.3 percent last year and a jump of 4.1 percent in 2006, which had been the biggest advance in 15 years.

[Warpy]

1. Wowie Zowie, a whole 2.3%!

Meanwhile, inflation in the things they need to live on is galloping along at a double digit rate.

Thank you, Alan Greenspan, for getting food and fuel out of the market basket! Those plasma TV sets we live on show beyond a shadow of a doubt that those greedy grannies don't need any COLAs from year to year!

[JeanGrey]

8. My secondary insurance that I have to have because of

incredibly expensive drugs just went from $544 a month to $671 next year. Soon I won't be able to afford the secondary policy and then I'm really screwed if I only have Medicare. (sigh)

[dajoki]

10. That is completely outrageous ...

If I knew of an idea to help you, I would. Unfortunately we are pretty much screwed. Good luck to you.

[Blaze Diem]

2. And the FDA 'CEO's' got freakin Bonuses???

Our Federal Government is now a Corporation.

Foxes in the hen house. Who wans't watching the damn door?

I am SOoooooooooo disgusted with so much in our govt right now. Helpless bunch of shits we are now.
sol.

[lovuian]

3. This is the biggest lie and these SS people need to fight

for their checks

[dajoki]

4. This is total bullshit...

After they take Medicare payment out there will be no raise!!

[cutlassmama]

6. They don't advertise that part. The "raise" is just to make them

look good. While * is off throwing away money left and right on an illegal and immoral war and paying his buddies, he's got the elderly and disabled living on a pittance.

[Traveling_Home]

5. I don't want no COLA - I want a RAISE !!!!!

[cutlassmama]

7. Amen.

[joeglow3]

12. I agree, but

this is probably a greater return then they are getting on their crappy investment. They need to find a way to invest SS in something other than mattresses. I am 30 and invest in all stocks because I know I can ride the wave of any downturn and still come out ahead when I am 60. Social security's life span goes on in perpetuity. Thus, they can and should take on a bit more risk so our elderly and disabled can get more than a pittance every year.

[Traveling_Home]

13. Actually, I should have put a < sarcasm> tag after my post .

I think too often those of us on benefits (SSDI for me) forget that it is a COLA and not a raise. I have said and often heard folk complain that after my medicare and living expense increases that I won't have any more money. The system's supposed to work that way.

[mrcheerful]

9. I just got my statement from SS in the mail, my disabilty will go up by a whooping $17

on Jan 1 2008, gee that will almost make up for the raise in Gas, food and rent since Jan 1 07, if I compare what I get next year to 1985 prices that is.

[allisonthegreat]

11. yeah your rent goes up fifty bucks and then

the price of food, electricity and what not. Hell I have already given up my car. What's next? No wonder there are so many homeless.

[cutlassmama]

14. with the Medicare increase I end up with a whole whopping $15.00 raise

[Inchworm]

15. Probably just enough to make me ineligible for something

x(

[hyphenate]

16. Big whoop

The amount they take out of my check for Medicare premiums went up, too. I don't get SSI. I don't pay rent, thankfully (live in a friend's house), because if I did, I would not be able to afford food or necessities. I feel bad as it is that I pay for a cell phone (at a whopping $30 a month), but I need it). The few "luxuries" I have (DSL for $30 a month, DirecTV for $40, Tivo for $13) are the only things which keep me sane, but try telling someone who thinks it's scandalous to have those things and be considered "poor." Since I'm pretty much housebound (I get out about 1-2 times a week, tops), I would probably shoot myself if my sanity was in danger of being lost.

So that $25 nearly pays a bill for me. It helps. And it's pretty bad to consider $25 a godsend, but it is.