Rumors are swirling around Capitol Hill that seniors may receive a Social Security cost of living adjustment (COLA) hike in 2012. Based on the last three months’ numbers the adjustment could be anywhere from 2.2 percent to 3.5 percent and that would be a boost to seniors who have suffered the past two years without a COLA increase.
The September data will have the final say on how large a bump will be doled out but those figures will not be released until October 19. Until then, it’s a guessing game that has been giving seniors fits.
When we wrote about COLA remaining stagnant earlier this year, with the government giving the excuse that inflation hasn’t risen fast enough to warrant it, the retired community responded in droves, with their anger directed at our government and its elected officials:
“The senators should have to live on social security and have to pay for their own medical insurance just like we do,” wrote Waymon Westcott. “We pay them to run the country and they fight among themselves all year long.”