The the Obama administration and the Federal Congressional Budget Office has predicted that there will be NO increases in Social Security Benefits in 2010 or 2011. This report was covered in the Milwaukee Journal-Sentinel Sunday issue on Page 4A.
There will be no increases because inflation is expected to be low due to economic downturn and a decline in energy prices.
However other factors may increase costs for some Social Security recipients, Higher priced prescription drug premium coverage in Part D Medicare. Or your income may be too high and other Medicare premiums may increase too.
Spending on Social Security and Medicare totaled more than one Trillion Dollars last year. This is more than 1/3 of the total Federal Budget.
It is time for local and State Governments to recognize the plight that the unemployed and older Americans face and reign cost of Government at all levels.
