It could be 2012 before older Americans see an increase in their monthly Social Security benefits.
The government announced Friday that there will be no cost-of-living raise for the more than 58 million Social Security recipients in 2011. It’s the second year in a row that benefit checks didn’t adjust upward for inflation.
To compensate for the lack of a cost-of-living adjustment (COLA), the White House Friday said President Obama would renew his call for a $250 payment to Social Security recipients, a move he pushed for last year as part of the economic stimulus package. House Democrats also said they will try to push a similar measure when Congress reconvenes after the midterm elections in November. … Back to Article
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