Social Security Cost of Living Increase for 2012
A post a bit further down on this blog describes the risible and naive reporting by our local Minneapolis newspaper on next January's COLA increase in social security benefits.
Readers of this blog know that the actual increase will be determined by the Bureau of Labor Statistics CPI-W for July August and September of this year in relation to the "baseline" number of 215.495
July's number was just released and it is: 222.686
If the CPI-W holds steady for the next two months, that will give us an increase of 3.37%
What do you think? Expecting a big decrease in the next two months? Stay tuned!
Now, do you remember the numbers that we found in this March 27 Associated Press article that makes two guesses in one sentence!
... the trustees who oversee the Social Security project a 1.2 percent COLA. President Barack Obama, in his spending proposal for the budget year that begins Oct. 1, projects a COLA of 0.9 percent.When the actual figure is announced, it is supposed to be a surprise. So, don't tell anyone! Pretend you are as surprised as the Associated Press will be.