Tuesday, October 18, 2016

SQUEEZING THE ELDERLY: Government Has Set the 2017 Social Security Cost of Living Adjustment

The government has just set the 2017 Social Security cost of living adjustment at just plus 0.3 percent. In dollars and cents, it means the average retired beneficiary’s check will only rise about $5.00.

USA Today points out, the even more bitter pill: Many current Medicare beneficiaries won’t be able to spend any of that extra money. Instead, they’ll likely have to send their COLA straight back to Uncle Sam to cover higher Medicare Part B premiums.

The 0.3% hike comes at a time when the government's own figures show price inflation climbing at a rate of 1.5%, 5 times greater that the "cost of living adjustment."

Basics that are a significant portion of a retired person's expenditures are climbing even faster.

According to the Bureau of Labor Statistics' latest data, over the last 12 months, shelter prices have climbed at a rate of 3.4%, medical care services at a rate of 4.8%.

Social Security is a Ponzi scheme that is on its last legs, It will hurt those who never set aside extra savings and believed the government was an honest administrator of their retirement money. That belief is going to make their final years financially painful years.



  1. So, let's start the Scorecard here:

    1. "Farmers. We care about you and will give you Price Supports and guaranteed markets". (Provided you get get Big Farma involved to pay our Bribes. Oh! We gotta get the Illegals on the bus so...maybe they'll pick our cotton...)

    2. "Workers. We care about you and will give you Union Rights and guaranteed wages". (Provided your Union Bosses funnel money into our Campaign Coffers. Oh! We gotta get the Illegals to pick our cotton. Sorry about the Wage Structure 'n all. How'sa 'bout another Unemployment Check?)

    3. "Elderly. We care about you and will give you Free Money each month". (Provided you vote for us to continue the Bribe Train. Remember Roosevelt wanted you all out of the work force. Did someone mention Death Panels?)

    4. All of you are now Bought and Paid For. We now have other Priorites for Bribes and since you cannot go against us, SUCK IT UP!!

    See ya'll next election...


    1. Believe it or not, but you can choose to not participate in the Social Security Program if you like. You do not have to have a Social Security number Or anything likethat to work in the U S. It may make it a little harder to find work, but your pay is not cut for, nor does your employer have to match, any Social Security deductions. BUT, you can't draw any Social Security checks or get medi-care when you turn 65 and/or retire. You are just "on your own".
      This would be the best way for you to learn that Social security is NOT "free money".

  2. Lying,Cheating,Stupid ASS Bastards in Congress! They all need to be run off! But its OK to give Israel $38 Billion? Right? WRONG!!!!!!!!! I am sick of it!

  3. How much will CONGRESS' COLA be?

  4. Social Security is NOT an "entitlement"
    Social Security is the Private PROPERTY of the Workers that PAID for it.
    Social Security is a TONTINE, a TRUST FUND.. American workers pay into it their entire lives through payroll deductions. Social Security payments are supposed to come from that fund. So why is Social Security needing an increase in the debt ceiling? Where did our money go? Of course, this is a rhetorical question. Starting with the Lyndon Johnson administration, the government "borrowed" the cash in the Social Security Trust Fund, replacing is with Treasury Bonds that the US Government is now unable to redeem. The implications are obvious. Because the US Government cannot redeem those Treasury Bonds in the Social Security Trust Fund, the US Government is already in default against the American workers. The American workers' money is gone. The US Government has effectively embezzled the retirement money ($2.6TRILLION+) of American workers. So, in borrowing money to replace the looted cash, the US Government is expecting future workers to pay for Social Security benefits that were already paid for once before, effectively double-billing We The People. To put it another way, the US Government just sold us an apple, but is forcing us to pay for two, and trying to look like this is wise fiscal management of the peoples' retirement funds!

    1. Dr. Dan --

      Several Supreme Court Cases have shed much light on the nature of "Social Security". In one case, from memory, a Romanian Communist who was to be deported wanted his "Present Value" given to him based on what he had paid in. The Supremes stated that this person was not entitled to anything since SS was NOT an insurance policy.

      The Supremes have also ruled that the SS Funds are to be paid into the General Fund. The "SS Bonds" are non-existent. Money goes into the General Fund and money comes out. With this notion, no Congress can make a Claim on a future Congress to spend money.

      There are no valid "Promises", no magical "Trust Fund". The Congress will allocate whatever it wants for a particular year and that's it.

      That's the Fraud.


    2. https://en.wikipedia.org/wiki/Flemming_v._Nestor

  5. COLs would be unnecessary if we have sound, Constitutional money.