Social Security cost of living increase 2011? Don't count on it. Social Security recipients typically enjoy a modest annual increase in their benefits due to the increase in cost of living from year to year. Because of laws enacted in the past, benefits will never go down should cost of living go down. The increases are typically modest - only a few per cent. However, it costs the government billions each and every year.
The Associated Press reports that an official announcement is supposed to be made by the Social Security administration this week which indicates that no COLA will be made this year - only the second time ever since inflation adjustments were made. The first? Last year.
This could be a blow to Democrats during the 2010 mid-term elections. At least 12 Senate Democrats voted along with the GOP earlier this year to fail to pass a provision that would have allowed a bonus payment of Social Security this year to make up for the lack of COLA adjustments..
Not only wasn't that passed, but the hopes of Social Security cost of living increase 2011 are slim, if not unexistant.
