Trickle-down economics has been a gut punch to the American Dream and a secure retirement.
Only pensions that exist today are usually government. Ironically government jobs were usually exempt from from the same laws. They have been mismanaged by governments when the 2008 financial disaster hit and they kicked the pension funding down the road in order to make up for revenue losses (Illinois). Since most Americans know nothing about investing in the stock market 401(ks) are a treacherous road.
The cost of insurance home, car, property taxes have all increased beyond 2% for the year. Even though gas prices were somewhat lower part of the year it has not been reflected in the price of food etc. Since clerical workers are the lowest paid jobs in the work force and raises are non existent makes you wonder why organizations like AARP are silent and continue to be insurance sales as their primary goal. Each year retirees fall farther behind and one financial increase or price can devastate a retiree.
"Some conservatives argue that the inflation index is too generous because when prices go up, people change their buying habits and buy cheaper alternatives."
I wish that the reporter would actually back up a statement like this. What conservatives? Who is he talking about, a friend of his? A relative, perhaps? Nothing but yellow journalism, just an inflammatory statement with nothing to back it up.
The 2% increase would be fine, I guess, as long as WE GET IT. We got a healthy 1% in 2017 only to find out that the cost of Medicare was raised to take back that small contribution and we got NOTHING! SHAME.
It has nothing to do with politics. It's just a coincidence that this year the COLA is 2% while it averaged only about 1% from 2009-2016. BTW, the members of the BLS (who all work in the Executive Branch) compute the inflation number.
" ........... and you're gonna win win win so much ..... you're gonna say pleas stop i don't want to win any more .............." and , as always , MORE TAX CUTS FOR THE WEALTHY ........................
I do not know why everyone complains about the amount paid by social security, or the cost of healthcare, or even the fact that some politicians seem bent on giving the super wealthy huge, bigly tax breaks. After all, it is your fault you were not born into a wealthy family and did not inherit the family fortune. Let this be a lesson for next time..
Here is your deserved consolation prize..a roll of paper towels.
/Sarcasm of course.
"Some conservatives argue that the inflation index is too generous because when prices go up, people change their buying habits and buy cheaper alternatives." Yeah, like instead of buying hamburger, you can get dog food! So sick of these deadly tumors on humanity. I've seen plenty of "liberalism is a mental illness!" from the unhinged, I think its time we set the record straight. Conservatism is one of the signs of a psychopath.
I can remember only getting some 2% raises when I was working, and most times it was 0%...so I'm used to it really...
It just makes it a bit more difficult when you are on a fixed income...
Republicans have been working to repeal Social Security since 1935!
Why not raise Social Security the same percentage our politicians get?
What this article fails to mention is the increased medicare premiums for most retirees will eat all but a few dollars of next year's raise.
What little they may add to that is for the short term only. And at the same time, Medicare & Medicaid benefits continue to be dropped.
With the age of our general population, people should be extremely concerned about Medicaid benefits being dropped because that is a primary source of care/living for a very large % of our elderly population and has been trending in that direction for years now (doesn't matter if you are in a red state or blue state - it is all trending in that direction).
Without those benefits, who will pay for your elderly relatives' (or your) care? You - out of pocket, at a massive cost.
And with the sheer # of elderly needing that type of care, what does that do to our overall economy (not to mention your own personal savings) --- it tanks it.
I haven't seen an actual increase in my Social Security income since 2015. This year, when I truly anticipated a better change, I was astonished to learn I'd receive no raise at all. When I inquired about the matter, I was told, because my medications have gone up in price, my raise is equal to the price factor, thus my income won't change. My rent went up, gasoline went up, groceries cost more, and still I earn what I was taking home in 2015, 2016. I hope I actually see a positive difference in my income next year!!
Last year's SS increase was offset by an increase to Medicare monthly payment ... to the penny, BTW. Whoopie as this will probably occur again!
It needs to get back where it is supposed to be. 2.8 Trillion dollars was stolen by the government, if it were back, where it belongs, the benefits would be enough for retirement (without living below the poverty level).
Don't spend it all in one place.
Why didn't ABC just wait a few hours until the actual percentage was released?
Which just proves that, "some conservatives" are a lot more stupid than the just plain old dumb conservatives.
" when prices go up, people change their buying habits and buy cheaper alternatives." Until they've maxed out all those cheaper alternatives
Obama offered to cut the COLA as a way to fix SS. But since it is so low anyway, cutting. It is not going to save much.