SS recipients get 2.3% raise...

[Achiever51]

This from MSNBC.com: Social Security recipients get 2.3 percent raise - Stocks & Economy - MSNBC.com


"The 2.3 percent increase is the smallest since a 2.1 percent rise in 2004. It compares to an increase of 3.3 percent last year and a jump of 4.1 percent in 2006, which had been the biggest advance in 15 years."


"Part of the Social Security increase will be eaten up by a rise in the cost of Medicare, the giant health care program that covers the elderly and disabled. The government announced earlier this month that Medicare premiums will rise 3.1 percent next year or $2.50 to $96.40 per month. That is the lowest Medicare premium increase in six years."

[RetireeRobert]

Quote:

Originally Posted by Achiever51 This from MSNBC.com: Social Security recipients get 2.3 percent raise - Stocks & Economy - MSNBC.com "The 2.3 percent increase is the smallest since a 2.1 percent rise in 2004. It compares to an increase of 3.3 percent last year and a jump of 4.1 percent in 2006, which had been the biggest advance in 15 years." "Part of the Social Security increase will be eaten up by a rise in the cost of Medicare, the giant health care program that covers the elderly and disabled. The government announced earlier this month that Medicare premiums will rise 3.1 percent next year or $2.50 to $96.40 per month. That is the lowest Medicare premium increase in six years."

Just heard that on the radio before seeing your post. As I just start my SS effective january 2008, it's all gravy to me. Reminds me of when I started working July 1, 1974. I got a raise on my promised starting salary the first day on the new job because the unions had negotiated an across the board raise for the fiscal year (July thru June).

[maddythebeagle]

Again, more proof that inflation is not a problem.....

[jazz4cash]

So is that good or not good? The way I heard it reported, "the average SS recipients will receive an additional $24/mo.", it sounded trivial. $24 is 2.3% of ~1020.00

[ziggy29]

SS increase: 2.3%

Cap increase on wages subject to tax: 4.6%

Such a deal. And who, save those who spend half their income on electronics, has seen their cost of living rise only 2.3%?

[FinanceDude]

Quote:

Originally Posted by Achiever51 This from MSNBC.com: Social Security recipients get 2.3 percent raise - Stocks & Economy - MSNBC.com "The 2.3 percent increase is the smallest since a 2.1 percent rise in 2004. It compares to an increase of 3.3 percent last year and a jump of 4.1 percent in 2006, which had been the biggest advance in 15 years." "Part of the Social Security increase will be eaten up by a rise in the cost of Medicare, the giant health care program that covers the elderly and disabled. The government announced earlier this month that Medicare premiums will rise 3.1 percent next year or $2.50 to $96.40 per month. That is the lowest Medicare premium increase in six years."

Yet another indicator that SS is running out of money........they can't "afford" give more........

[teejayevans]

=

Quote:

Originally Posted by Achiever51 "The 2.3 percent increase is the smallest since a 2.1 percent rise in 2004. It compares to an increase of 3.3 percent last year and a jump of 4.1 percent in 2006, which had been the biggest advance in 15 years."

Beats my last 4 raises which have been 0, 1, 0, 0 percent.
This FIRE thing may not be that bad after all.
TJ