No Social Security Increase 2011

No Social Security increase 2011. There's not going to be an increase in Social Security for the millions of elderly, disabled, and underprivileged people in America for the second year in a row. Of course, this is understandably causing a considerable amount of uproar within the community, as Americans have grown to expect their "annual raise."

There's no "right" to an increase in benefits. Social Security payments are supposed to adjust with the Cost of Living. However, if the cost of living goes down, payments don't actually decrease.

The last increase was 5.8% due to a spike in energy costs. As energy prices have stabilized, the argument is that benefits are now catching up to what they would have been without the raise back starting in 2009.

The failure of having a social security increase in 2011 is troublesome to democrats, who are slated to lose a number of seats in the 2010 mid-term elections as it is.

With the average Social Security recipient receiving $1,072 per month and 2/3 of retirees living on Social Security alone, Nancy Pelosi pushed to pass a $250 one-time bonus payment to recipients. However, passing this in the Senate will be difficult, at best.

House To Vote On Social Security Bonus

The House to Vote on Social Security bonus after they reconvene in November. Today, the Social Security Administration is said to be getting ready to announce that they are not going to give out cost of living increases for the second year in a row.

However, this is an election year and if there's the promise of even a small bonus, the masses will be happy.

Despite what many think, we aren't entitled to higher social security payments every year. Back in the 70's the law was changed to provide for cost of living increases - but there was a stipulation that said that benefits wouldn't be decreased if the cost of living decreased.

There's only been two times in history that the benefits have not been increased, and that's this year and last year.

Will recipients get a $250 one-time bonus again? I guess we will have to wait until Congress reconvenes to find out.

Social Security Cost of Living Increase 2011? Don't Count on It!

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.