HERE IS THE SCOOP ON THE SOCIAL SECURITY TRUST FUND:
BUSH SIPHONED OFF OVER $2.2 TRILLION DOLLARS OF THE SOCIAL SECURITY TRUST FUND TO PAY FOR HIS BIG GOVERNMENT SPENDING: HERE IS THE GRAPH: SEE HOW IT INCREASES FROM 2000 TO 2008??? THAT IS WHY MEDICARE IS IN TROUBLE, THAT IS WHY THE REPUBLICANS SPREAD THE LIE THAT SOCIAL SECURITY IS IN TROUBLE...THAT IS WHY BUSH TRIED TO GET SOCIAL SECURITY TO BE PRIVATIZED...COULD YOU IMAGINE IF HE SUCCEEDED...THERE WOULDN'T BE ANYTHING LEFT NOW!!!
As of the end of fiscal year 2008, $2,150 billion ($2.2 Trillion) of in-coming surpluses from workers had been siphoned-off to-date from the Social Security trust fund - a 760% increase of $2 trillion since year-end 1991 - every penny spent on non-pension things. ($182 billion of that was extracted IN 2008 alone).
Non-marketable IOUs were put in the trust in exchange for the cash taken out - - with zero plan budgeted by the REPUBLICANS FROM 1996 TO 2006, WHO WERE THE MAJORITY VOTE to redeem those IOUs and repay the trust fund in cash or marketable assets in exchange for the prior cash surpluses removed for other purposes. Same goes for interest due, it's paid with more IOUs instead of cash.
REGARDING JOBS OR THE LACK THEREOF: BUSH GAVE TAX INCENTIVES TO MILLIONS OF CORPORATIONS IN 2000 TO GO ABROAD AND "GLOBALIZE"! THEY ALL RAN LIKE THIEVES IN THE NIGHT TO CHINA, INDIA, PHILLIPINES AND OTHER COUNTRIES...TAKING WITH THEM MILLIONS, UPON MILLIONS OF AMERICAN JOBS!!! WHERE WERE YOU WHEN THEY SHIPPED THEM OFF!!! THAT IS WHY SO MANY PEOPLE ARE OUT OF WORK NOW!!!
Additionally, the Bush Administration borrowed from 12 foreign countries, BILLIONS OF DOLLARS FROM EACH ONE!!! Japan, United Kingdom, China, Saudi Arabia...and on and on!!! Can you imagine just the interest payments that President Obama must pay out of his new budget with no way to pay on the principal loans???
For those of us on Social Security, Social Security Disability Income (SSDI), and Supplemental Security Income (SSI), no this year there is no increase. That is not the doing of President Obama nor his party. Social Security Cost of Living Adjustments or (COLA) was started many years ago and is calculated on a plan.
According the the National Bureau of Economic Research (the official arbiter of recessions) the current recession began in December 2007.
Because there is no increase in the CPI-W Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of 2008 through the third quarter of 2009, there is no COLA.
What is a COLA?
Legislation enacted in 1973 provides for cost-of-living adjustments, or COLAs. With COLAs, Social Security and Supplemental Security Income (SSI) benefits keep pace with inflation.
How is a COLA calculated?
The Social Security Act specifies a formula for determining each COLA. In general, a COLA is equal to the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of one year to the third quarter of the next. If there is no increase, there is no COLA.
For the December 2009 COLA, we measure the increase (if any) in the average CPI-W from the third calendar quarter of 2008 to the third quarter of 2009. These averages are 215.495 and 211.001 for the third calendar quarters of 2008 and 2009, respectively, and are derived from monthly CPI-Ws developed by the Bureau of Labor Statistics.
to the nearest 0.001)
ONCE AGAIN.....Because there is no increase in the CPI-W from the third quarter of 2008 through the third quarter of 2009, there is no COLA (no increase in Social Security benefits payable in January 2010, nor will there be an increase in SSI payments.)...NOT BECAUSE OF PRESIDENT BARACK OBAMA!!!
President Obama did give us, in 2009, persons with any Social Security a $250. income, one-time amount. He tried to do it again this year, but the plan would not pass. Everyone who earns a paycheck last year, wether or not they were aware of it, receive an approximate $750. increase since President Obama lowered the FICA taxes, which gave more in each of the payroll checks. A small amount every check but it did total $750.00...part of the Stimulus plan. This year, eligibility terms are being changed for "Extra Help" for Prescription assistance. If you have not heard from Social Security as yet, please call and ask for the information on the "Extra Help Program".
People have no idea what is really happening in Washington. They listen to the corporate owned television stations that pay these people to lie and manipulate the truth, but the reality is that the Republicans have voted against every last bill that has come to the floor of the Congress or the Senate since January 20, 2009! They are working with Corporate America to bring down the Middle-class.
In Florida, my state, the Republicans, as threatened by the RNC, Republican National Committee, voted in our majority Republican State Legislature against any extended unemployment, against food stamps, against small business loans. The only money approved was for Large Corprorations who give big donations for their re-election campaigns. So any state with a majority of Republicans has said no to the Stimulus money, thus guaranteeing that state's failure to thrive in an economic down-turn. I watched on C-Span, every vote that was taken on the floor of the Senate, the Congress, and all committee meetings and sub-committee meetings. NO ONE REPUBLICAN SAID YES! One did in Louisiana, and he is being ousted due to support for an alternate Republican chosen that will say "no", and the republican supporters and the party itself, will only donate and support their chosen one!
The Republicans are trying to bring this country down to its' knees and almost did by voting out any and all banking laws that were voted in after the Reagan Presidency with the Savings and Loan debocle! Yet the "Tea-Baggers" and others DO NOT UNDERSTAND WHAT THEY ARE DOING!!! I SAY TO THE, AS JESUS DID, FORGIVE THEM LORD, FOR THEY KNOW NOT WHAT THEY DO!!!