Social Security Going Up by 2.3 Percent

[4JesusLove]

http://biz.yahoo.com/ap/071017/social_security.html


By Martin Crutsinger, AP Economics Writer
Nation's Nearly 50 Million Social Security Recipients to Get 2.3 Percent Adjustment

WASHINGTON (AP) -- Come January, Social Security benefits for nearly 50 million Americans are going up 2.3 percent, the smallest increase in four years. It will mean an extra $24 per month in the average check, the government announced Wednesday.


The cost of living adjustment means that the monthly benefit for the typical retired worker in 2008 will go from $1,055 currently to $1,079 next year.
The adjustment, announced by the Social Security Administration, will go to more than 54 million Americans. Nearly 50 million receive Social Security benefits and the rest get Supplemental Security Income payments aimed at helping the poor.

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[SisterNChrist]

That's what I call fantastic news!!! :yeah :dance2 Thank you, 4JesusLove, for sharing this wonderful news with us. :hug

[4JesusLove]

This is the best news.

1 Timothy 2:5 (King James Version)

5For there is one God, and one mediator between God and men, the man Christ Jesus;



Read the article its not really good news sorry to say.

[4JesusLove]

more from link

An estimated 10,000 people a day will become eligible for Social Security benefits over the next two decades, putting a severe strain on the pension program.

If no changes are made, the Social Security trust fund is projected to deplete its reserves in 2041 and even sooner, in 2017, Social Security is scheduled to start paying out more in benefits than it collects each year in payroll taxes. Medicare is facing even greater funding problems because of the rapidly rising cost of health care.

President Bush pledged to make reforming Social Security the top priority of his second term, but his plan to provide private accounts for younger workers went nowhere in Congress and Republicans and Democrats remain deadlocked on the issue.

[SisterNChrist]

more from link

An estimated 10,000 people a day will become eligible for Social Security benefits over the next two decades, putting a severe strain on the pension program.

If no changes are made, the Social Security trust fund is projected to deplete its reserves in 2041 and even sooner, in 2017, Social Security is scheduled to start paying out more in benefits than it collects each year in payroll taxes. Medicare is facing even greater funding problems because of the rapidly rising cost of health care.

President Bush pledged to make reforming Social Security the top priority of his second term, but his plan to provide private accounts for younger workers went nowhere in Congress and Republicans and Democrats remain deadlocked on the issue.


I keep thinking that when the Rapture happens, many of us on SS will be taken...so when that occurs--there will be more SS money in the kitty for those left behind. Because once we're gone, our SS checks will quit coming to us.

Since sadly, I'll be leaving behind my brother & SIL, I trust that they will no doubt notify SS about my sudden departure, and have my SS checks stopped.

Have you folks also thought about this possibility too?

[SummerSailing81]

Great, more money for the government to waste that won't be there when most of us retire. :gaah

[MochaMel]

I know, what the heck happens to all the money we've put in while working.. what is the goverment doing with it?!! I don't want to pay into something i wont even get... :idunno

[Christopher Clemons]

I continue to be amazed that our politicians continue to stall and stall on this issue. I work for the State of Ohio and am fortunate to be participating in a workers retirement system that is both solvent and offers an investment type of approach to my retirement. I do wonder down the line how much far reaching our legislators will move when they finally have to touch that third rail...

[Neen273]

If the state of the world were getting better instead of worse, if the cost of living was going down instead of up, and the monthly increase a lot more than a measly $24 a month...well, that would be something to be happy about. $24 a month is surely not keeping up with inflation.

The only thing I think is worth celebrating is the soon return of Jesus. :)

[HisAlways]

I know, what the heck happens to all the money we've put in while working.. what is the goverment doing with it?!! I don't want to pay into something i wont even get... :idunno
The govt is spending it.

Tell me how they can get away with that. That money comes out of our paychecks for OUR retirement, yet they can take it and spend it.

:idunno