Figures Don't Lie

Many years ago, my Uncle Wes was listening to a political commentary on the evening news. About halfway through the piece he got up, turned the TV off and told me: "Figures don't lie but liars sure can figure" This Blog is dedicated to setting things right about a few of the numbers tossed around in today's political discussions.

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Location: Bloomington, Minnesota, United States

How old am I? Well, for much of my career, I had a secretary. And, my best secretary could take shorthand.

Tuesday, July 19, 2011

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.


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