Social Security

2017 Social Security COLA … not likely at this point

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.7 percent over the last 12 months to an index level of 230.972 (1982-84=100).
230.972 is below the average indexes for July, August and September 2015

At this rate there will be no COLA in 2017. 

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6 replies »

  1. I believe that Congress should get Social Security benefits and not have a “special” fund just for them. What company gives you a full retirement after only 4 years? I think that most Congressional members get lots of perks anyway–so why do they have a different medical program, a different retirement program and get to vote on their own raises? Let’s talk about “entitlement” programs. I have paid into Social Security for over 55 years. Am I getting a handout or just collecting on a bit of what I have paid in? I still work and I still pay in every pay check. At 73, I can’t afford to retire. The housing bust, the banking collapse and the flood of jobs overseas has left me with few alternatives. I’m not complaining, but I don’t look at the situation quite like our fat, well paid politicians. Could they live on minimum wage for even one month? I doubt it and neither can anyone else.

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    • Congress must serve five years to receive any pension. So a Representative must be elected three times to get any pension. A person getting a pension after only 5 or 6 years in office will get about 9% of their pay at age 62. Their health care is Obamacare. They are employees and therefore are entitled to benefits as workers like hundreds of million other Americans and why not. If we don’t like the job they are doing, we can fire them.

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    • J. Lybarger, Congress has been on the SS system since 1985. So, have most Federal employees. No one gets full retirement after 4 years, except the President. Almost everyone who has paid into SS will receive everything they have paid in back in just 6 years of getting benefits and most have only paid half, their employer paid the other half. Anyone with just minimum wage income, qualifies for government assistance programs. Many of the 55 years you paid in your wages were under $10,000 = $51.60 per month. I bet your SS benefit check is a lot more than that, even if you count your employer’s half, total for the year = $1,240 = less than one months benefit check. Starting SS at age 62, I will get everything I paid in, back in 42 months. Because my wife who never worked gets 35% of my benefit.

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  2. If the gas prices keep going up through out the summer, I think we may get a COLA in 2017. It is just too early to tell for sure.
    People need to remember the COLA was put in place to keep payments level as prices go up. Not to give you more when prices stay the same or go down. We have 18 Trillion in debt now, where is the extra 20 billion a year going to come from for a 2% COLA? From the trust fund? Then will benefits have to be cut in 2030 because COLAs where given in years where prices did not go up. We cannot have our cake and eat it too, but many think they are being shafted if they do not get a COLA. Even when I get a COLA I still adjust my buying of goods and services as to the value received. I use the city bus and have not purchased gasoline since July 2014, so the low gas prices have not helped my budget one bit. Cutting cable TV and streaming with Netflix and Hulu has saved me $55 per month, way more than any COLA increase. It is all about choices. I am just glad they are not freezing benefits or cutting benefits, which is a possibility in the future.

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  3. They need to freakin’ fix this Social Security problem..its ridiculous..I dont see any of those freakin’ politicians cutting back their salaries..???? If you ask me..they make too much and are really not doing a good job..for the american people

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