The Cost-of-Living-adjustment for Social Security retirees will be 1.5% (one-and-a-half) beginning in 2014. This will be about $ 19 a month for the average recipient.
This is the LOWEST increase since 1975. Keep in mind that the cost of Medicare is up, pharmaceuticals are up, rents are up and Food Stamps, which many retirees collect, have been slashed. Odds are Granny and Grampie are going to have to start selling their blood, or maybe cut that daily can of cat food down to half a can.
Oh, and BTW, CEOs are being paid more than ever, and corporate profits are sky high, and Billionaires are rolling in it, and Congress-critters are reaping ever greater returns on their routine sucking at the corporate teats. All the while that those seniors with retirement funds parked in safe CD accounts at the local Bankster hide-outs are being paid ever-smaller returns. It seems that Banksters have no need to pay for depositor money inasmuch as the Federal Reserve provides them taxpayer money at near-zero costs.
Between the Corporateers and the Banksters and the Congress-critters, Seniors are being squeezed til the pips squeak, unfortunately, the white-hairs don’t have the energy to squeak so a mild-mannered sigh will have to do.