It has been reported by the Associated Press Social Security recipients will not receive any adjustments for the coming year. If so it will be the second year in a row. The culprit is inflation that triggers the cost of living adjustment, or COLA as it is called. Like last year, the trustees who oversee Social Security project there will be no COLA for 2011 because of the inflation trigger.
The republican party and conservatives of all stripes are trying to blame the President for the COLA adjustments, however the law covering COLA were adopted by Congress under the Republican administration of Nixon-Ford in 1975 so this news is not new. It was good law because inflation was a problem at the time. The problem now is that the Bush recession and record job losses have been so severe there has been no inflation growth the past two years. Republicans talk a good game but it ends there.
Social Security recipients are better off keeping their monthly Social Security benefits without the benefit of COLA rather than have the Republican party privatize Social Security with Wall Street. That is what was behind the 20 years of record deficit spending and debt created by the administrations of Reagan, Bush 41 and Bush 43. Their record deficit spending and debt was to deprive the federal government of revenue so Social Security and Medicare would have to fold.
The best thing Social Security recipients can do if they want to continue receiving their benefits is to vote Democratic. It was President Obama's stimulus plan that gave the people on Social Security $250.00 last year. A stimulus plan opposed by the republicans inside and out side of Congress. That says it all.
