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What do you think about the possibility of no COLA next year?

It is to my understanding that President Obama is considering not to give a cost of living increase next year to the People on Social Security, SSI, and disability. What do you think about this?

 
amessageofhope

Asked by amessageofhope at 1:15 AM on Sep. 2, 2010 in Politics & Current Events

Level 23 (17,397 Credits)
This question is closed.
Answers (15)
  • It is BS because congress AND the Senate just voted themselves a big fat COLA. I say we vote to CUT their pay!!!! ALL of them!!! And lets LIMIT them to just 1 week of vacation instead of the nearly 2 months they take now!
    vbruno

    Answer by vbruno at 2:48 PM on Sep. 2, 2010

  • I think he had best veto any pay raise congress passes this year, whether they raise the SS COLA or not.
    NotPanicking

    Answer by NotPanicking at 7:38 AM on Sep. 2, 2010

  • My husband hasnt had a COLA for over 4 years and his pay was just reduced by 5% for the next 2 years, which means that the raises he got and was supposed to get next year were taken away. My house is worth less than I paid for it 3 years ago and I was laid off., and our retirement accounts through our employer (state jobs) lost over $10,000. The way I see it, everyone is being affected in some way or another and we do the best we can with the hand we are dealt. Do I like it? No I hate it but we all are going to suffer in some way because of the way the economy is. You cant expect just the working class to bear the brunt of the cutbacks, it has to spread out otherwise it is going to get much worse. JMO.
    3_ring_circus_

    Answer by 3_ring_circus_ at 1:32 AM on Sep. 2, 2010

  • I havent had a raise in 2 years and just took a 10% pay cut.
    UpSheRises

    Answer by UpSheRises at 10:38 AM on Sep. 2, 2010

  • Considering I do not get a raise every year, it is not that bad of a thing. At least they have a check.
    KARRIEMARIE

    Answer by KARRIEMARIE at 8:16 AM on Sep. 2, 2010

  • That already happened!
    gertie41

    Answer by gertie41 at 9:32 AM on Sep. 2, 2010

  • They go by the consumer price index. No cost of living increase, no COLA. It's tied to the actual cost of living.
    stacymomof2

    Answer by stacymomof2 at 10:51 AM on Sep. 2, 2010

  • i think given all the changes being made and all the problems being solved or trying to be REsolved, that's not a bad idea at this point.. of course not ideal by any means but we all can't be pleased by every step along the way - I am not really happy that my house value went down 34k in one year and we have 4 forclosures and 4 rentals all of a sudden in our one block area but we are happy to not be upside down enough to actually put our house on the market My mother is on SSI and understands what he's doing also
    maxsmom11807

    Answer by maxsmom11807 at 1:18 AM on Sep. 2, 2010

  • I'm beginning to think he has simply frozen the COLA on all federal pay sources .... except Congressional pay. The cost of everything has gone up (and continues to do so, particualarly heating/cooling costs along with staple foods) and those on fixed incomes are strugging. What hasn't gone up is profit, but the COLA is going through the roof.

    Profits are going to stay down as long as people aren't spending, and continuing to raise the prices will only mean that far fewer people will be able to afford some things. If we didn't have a garden and production animals, this would be a huge ouch for us ~ and the majority of people do NOT the extra we do. The elderly in this area (SC) are definitely suffering because of this. Utilities are sky high, and most are choosing between meds and food (and sitting in the dark to try and keep the AC on when its 100 degrees out).
    Farmlady09

    Answer by Farmlady09 at 10:28 AM on Sep. 2, 2010

  • No COLA at my house, in fact we had a decrease in funds go figure......
    tyme4me2day

    Answer by tyme4me2day at 1:35 PM on Sep. 2, 2010