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Old 10-26-2011, 05:28 PM   #41
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I am *thrilled* about the COLA. Honestly, I am. Personally I will be getting less than $20/month extra. Still, the idea of getting a COLA is awesome.

I promise not to spend it all in one place....
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Old 10-26-2011, 07:04 PM   #42
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I am *thrilled* about the COLA. Honestly, I am. Personally I will be getting less than $20/month extra. Still, the idea of getting a COLA is awesome.

I promise not to spend it all in one place....
That's a great attitude! Perhaps you could add this to the "Say Something Positive" thread.........
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Old 10-26-2011, 07:33 PM   #43
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False premise. COLA is never meant to jump-start the economy. It offsets some price increases. That's all.
Correct. All we should expect out of the COLA is that seniors continue the same level of real spending. There is a tiny impact on timing since the COLA happens after prices went up - so it just offsets the small negative from the earlier price increases.
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Old 10-26-2011, 07:41 PM   #44
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You'd think that somebody writing stuff like this for the WSJ:

Quote:
The intent of COLA was to make sure that seniors’ Social Security benefits kept up with the rising cost of living. If the government is serious about protecting seniors’ buying power, and helping the economy as well, it will base its adjustments on the increase in their actual living costs.
would at least know that the gov't has been tracking an "elderly" set of price weights for more than a decade. The result is:

Quote:
Table 2 shows the behavior of the CPI-E, CPI-U, and CPI-W for selected expenditure
categories for the period December 1997 through December 2009. Over this 12-year
period, the reweighted experimental price index for older Americans (CPI-E) rose 36.1
percent. This compares with increases of 33.9 percent for the CPI-U and 33.8 percent for the CPI-W.
http://www.bls.gov/cpi/cpieart2009.pdf

In other words "no big deal".

Techies in this area say that a "chained CPI" would be slightly more accurate than the current method, and the chained CPI is a little lower. Putting the two refinements together results in no net change.
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Old 10-26-2011, 07:42 PM   #45
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Correct. All we should expect out of the COLA is that seniors continue the same level of real spending. There is a tiny impact on timing since the COLA happens after prices went up - so it just offsets the small negative from the earlier price increases.
Yes, exactly. In my case, the $17.73/month could be applied to the increase in cost of health insurance, gas price increases, food price increases, and so on, from 2009 through the end of the year. These prices have already risen quite a lot for all of us.
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Old 10-26-2011, 08:04 PM   #46
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I'll join W2R with being thrilled about getting a COLA.
This will be my first one in retirement and who knows what future years will bring.
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Old 10-27-2011, 12:55 AM   #47
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Thanks for giving the grammarians their own sandbox, guys.

I was going to make a comment involving the words "grammar", "logic", and "oxymoronic", but I decided to just give the thread a star and an "Ignore"...

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Originally Posted by W2R View Post
Yes, exactly. In my case, the $17.73/month could be applied to the increase in cost of health insurance, gas price increases, food price increases, and so on, from 2009 through the end of the year. These prices have already risen quite a lot for all of us.
So... maybe you'll be spending it all in one place after all!
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Old 10-27-2011, 01:14 AM   #48
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Yes, exactly. In my case, the $17.73/month could be applied to the increase in cost of health insurance, gas price increases, food price increases, and so on, from 2009 through the end of the year. These prices have already risen quite a lot for all of us.
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So... maybe you'll be spending it all in one place after all!

I just might! But it's nice to have, in any case.
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Old 10-27-2011, 02:24 AM   #49
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I am looking forward to receiving the COLA also! It is very much appreciated.
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Old 10-27-2011, 07:35 AM   #50
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I was going to make a comment involving the words "grammar", "logic", and "oxymoronic", but I decided to just give the thread a star and an "Ignore"...
Nothing wrong with the thread subject; that's why I have the offending poster an ignore (for all posts) ...
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Old 10-31-2011, 11:04 AM   #51
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Nothing wrong with the thread subject; that's why I have the offending poster an ignore (for all posts) ...
In my case it's a twofer!
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