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Old 09-11-2014, 07:44 PM   #21
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Originally Posted by unno2002 View Post
A "problem" came up when the politicians decided to re-define the inflation rate, such that it did not include things such as food & energy.
You are confusing core CPI with headline CPI (in this case CPI-W) which is what the SS COLA is indexed to.

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Old 09-11-2014, 09:56 PM   #22
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Originally Posted by unno2002 View Post
A "problem" came up when the politicians decided to re-define the inflation rate, such that it did not include things such as food & energy. The lower percentage for potential COLA means "fixed" payments such as SS continually fall behind the real-world inflation.
Common Misconceptions about the Consumer Price Index: Questions and Answers

Has the BLS removed food or energy prices in its official measure of inflation?

No. The BLS publishes thousands of CPI indexes each month, including the headline All Items CPI for All Urban Consumers (CPI-U) and the CPI-U for All Items Less Food and Energy. The latter series, widely referred to as the "core" CPI, is closely watched by many economic analysts and policymakers under the belief that food and energy prices are volatile and are subject to price shocks that cannot be damped through monetary policy. However, all consumer goods and services, including food and energy, are represented in the headline CPI.

Most importantly, none of the prominent legislated uses of the CPI excludes food and energy. Social security and federal retirement benefits are updated each year for inflation by the All Items CPI for Urban Wage Earners and Clerical Workers (CPI-W). Individual income tax parameters and Treasury Inflation-Protected Securities (TIPS) returns are based on the All Items CPI-U.

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Old 09-11-2014, 10:13 PM   #23
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Originally Posted by pb4uski View Post
Ok, ok - I deserve that but it seems that too often posters are looking for information that is very readily available. I typed "social security benefit increases" into google and it offered the webpage I attached. It took all of 10 seconds.
Why, when I can waste your time to do my research for me?

OK, said in jest, but I understand where P is coming from.

The best way to educate ourselves is to make a good faith effort to answer our questions, then ask for clarification.

I think the folks on this board are pretty helpful and welcoming

Back OT, I too believe SS will be there for future generations, although some reforms/modifications will need to be made.

Out right ending the program would unleash militant Gray Panthers and rivers of blood in the streets.

To the barricades Citizens!


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