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Social security boost for retirees

October 20, 2008 by  

Social security is rising by 5.8%Retirees who have been fretting over the state of the stock market and their nest egg have a bit of good news to look forward to – social security benefits are rising by 5.8 percent in 2009.

According to the Social Security Administration, this increase – the largest since 1982 – will mean an average of $63 extra in a retiree’s monthly check.

This year’s jump is a marked departure from the cost of living increases of the past decade, which are tied to inflation. However, recent rises in costs such as food and fuel seem to have pushed the decision.

However, some suggest that despite the increase many seniors will still struggle to maintain their standard of living – or even make ends meet.

"Right now many senior citizens are feeling depressed because things seem out of control," California State economics professor Sung Won Sohn told the Associated Press.

If anything, many people are feeling uncertain about their financial future. The Congressional Budget Office recently estimated that Americans lost a total of $2 trillion from their retirement accounts over the past 15 months, due to fluctuations in the stock market.
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  • Bob Livingston

    Unfortunately this small increase in Social Security benefits won’t make much of an impact on the bottom line for seniors.  The cost of all goods, from food to fuel to health care has skyrocketed over the past few months.  In increase in costs far outweighs the meager increase of 5.8%.

    Hopefully most of you have more than social security to depend on for your retirement income.  –Bob

    • Art Ritch

      Dear Bob,

      I am 83 and have been on Soc, Sec for over 30 years. My annual notice from S/S indicated a decrease of $31 mo. for 2009 due to increases in Medicare. This conflicts with the 5.8% increase indicated above. Can you enlighten me on this situation?
      Art Ritch

  • louie

    forget the increase I want to see crooked politicians such as Barney Frank, Bill Clinton, and backers of treasonous organizations such as ACORN arrested and prosecuted along with their Wall Street Millionaires who made their money off the life savings of Average Joe.  The possible take over of the Federal Government by the radical 60′s movement will destroy the nation that has kept the peace and freed ALL those who now live in freedom in the entire world.  From the Greatest Generation to the Sorriest in one life time, who could have guessed this?  GOD BLESS AMERICA, THE AMERICA THAT WAS.

  • Larry

    Louie, I couldn’t have put it better!  You are 100% correct.

  • Linda

    Louie, you have that right! Beside Barney Frank let’s add Chris Dodd head of the Finance Committee in the Senate, Nancy Pelosi Speaker of the House, Obama as President all with their hands in that piece of pie called Fanny Mae and Freddy Mac and the sub-prime which started this snow ball effect. No, there will not be an investigation into these corrupt leaders or their  organizations for the simple reason that it would lead back to these government officials that were responsible for over-sight  and instead chose to over-look! With a Democratic President and Congress, in the words of the 60′s movement, IT AIN’T HAPPEN’IN!  GOD BLESS AND SAVE AMERICA!

  • Faye

    I also agree with Louie!  Electrical bills, food, gasoline (even though price has lowered some), and all the other necessary living costs have skyrocketed so high that I can barely make it.  Let’s us put McCain and Palin in the oval office… maybe things will get better.

  • http://Yahoo Carol Gumulak

    Frankly, Bob, my husband is going to have a heart attack and give me one over this whole economic situation.  Our stocks is what we basically live on.  They are almost totally wiped out.  We are really scared and we imagine a lot of folks are.  I just retired (4) years ago and hopefully have a lot of years ahead of me.  With the way things are going now, I do not know what to think.  What were the banks and loan lenders thinking when they did this awful thing.  Congress is not worth a dam.  They ought to shoot Franks and Pelosi.  I’m sorry, I should not have said that, but I am so totally pissed right now it is hard for my husband and I too talk about all this without getting really fired up.  I had better stop writing before I really let people know what I am thinking.

    Carol G.
     

  • http://SYD Elmo C

    Frankly, I would like to see them put the money back. The money they spent of our Social Security, it started with Lydon Johnson and continues yet today. I would like to see them take down the marrige penalty tax,it costs me $ 1407.00 a year. Imagine what we could do with that. I am not going to vote for Barack, but most of the stupid people that don’t know what he will do to this country will ,just to have a black person in the White House. The liberals should not be elected dog catcher.

  • Dolores

    I agree with all of you. We have a socialist bunch of lunatics running for the white house and congress. As a matter of fact , they are already in the congress including Barney Frank and Chris Dodd and Baraaaaaak OBama. Throw in Nancy and Reid and you have full house of lunnies. Isn’t it time for another tea party?

  • Ann Erickson

    I agree with all of you but have a more serious problem….think about this: The elitists in D. C. who govern (use) us, must had to know the exact condition of Fanny Mae and Freddie Mac at all times; they withheld any action until a few weeks before the election in order to create the current chaos, knowing that it would bode well for the Democrats—–Anything to manipulate the election, and I mean anything…like Obama suddenly flying to Hawaii to see his suddenly-ill white mother.  Wow..what a great story for the brain-dead media to jump on and what a compassionate, devoted son who has previously thrown his mother under the train.  What an insult to our intelligence!!!

    If
    anyone reading this is too vacant to understand the consequences of an Ultra-Lib in the White House in a politically incestuous relationship with a
    greedy, corrupt Dem Congress, then please stay home on November 4th or any day that has early voting…You are dangerous!

  • Jean

    The only problem is the average increase of $63 a month will be taken up
    with an increase in Medicare premiums.

  • Jean

    All I can say is GOD help us if we get Obama for president and both houses controlled
    by Democrats. I am also worried about all the voter fraud going on in so many of the states and the Democrats seem to think it is OK because it favors them.

  • Jim

    It’s good to know there as many informed persons as those above. In addition to the criminals in Congress, many of the propaganda corps (also known as the media) should be prosecuted as co-conspirators for failure to report the truth to the American public.

    Pray, vote, pray.

  • http://www.onslowrealty.com Patrick (NC)

    In the Judeo-Christian (i.e. Bible) scriptures the Apostle Paul wrote to his fellow worker, Timothy (see II Timothy 3:1), “Know this also that in the last days (of earth’s history before Jesus returns) perilous times will come.” Pay attention folks, they’re here!! With all the economic, natural, and political upheavals, one would have to be “brain dead” not to see the warning signs all around. A socialistic regime could be the perfect vehicle to bring about the final events of  bible prophecy. Personal liberties are one of the first to go in any totalitarian system. Sooo – which presidential candidate is more considerate of personal freedoms? We must answer this question on November 4th. 

  • Joe the mechanic

    Who is to say that Obama is not the Antichrist as prophesied? He seems to have all the answers. He came out of nowhere (seemingly). People are swooning at his feet in public meetings. He refuses to reveal his former records. Even if he does not get elected, his Global Poverty Act will transfer an additional $845 Billion of our money to 3rd world countries. We cannot afford this man. He is dangerous.
    http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=56405
    http://www.barackobamatest.com/

  • anthony Kinh

    I pray that Obama and Co never get elected president with both house under the democrat majority, Our country is already such a bad shape , 4 years of the liberal in charge of the government will be devastated , they will transform the USA  in a socialist country like France and the other european nations. we can say good bye to our status of a super power.
    But if it happens , I think it would be God punishment, since the majority of people has turn against religion.and ignore God.
    Anyway God bless America. 

  • Norm Glover

    The government has decided not to raise the Medicare premiums this year.  So the raise in SS will be very significant, at least for my wife and I.

    • tennessee

      no but everthing else is going up food,gas you name to make a dine off of

  • Brenda

    These are truly historic times.  I expect something new and more drastic to happen each day.  Pray for America.

  • Richard

    If you want to pick the one person most responsible for the current financial crisis it’d have to be Phil Gramm (R) from Texas. He was the one responsible for pushing the repeal of the last law that kept the foxes out of the hen house – the Gramm-Leach-Bliley Act.

    Bill Clinton takes the number two spot for signing not vetoing Gramm-Leach-Bliley.

    Everything else you hear about the responsibility of Barney Frank, Barrack Obama, Nancy Pelosi, etc. is hogwash. You need look no further than the “shadow banking” system, whose creation was enabled by the Gramm-Leach-Bliley Act.

  • tennessee

    ME& MY HUSBAND LIVE OFF HIS SSDI THATS NOT MUCH THE WAY THE GOVERMENT HAS PUT THINGS IF EVERTHING KEEPS GOING UP WHERE IS THAT GOING TO PUT US ON THE STREETS.HE GOVERMENT IS SO MONEY HUNGRY .WHERE HAS ALL THE GONE IN THERE POCKETS .WHAT HAS HAPPEN TO OUR COUNRTY .KEEP YOUR CHANGE. I WELL KEEP MY MONEY,GUN,AND MY FREEDOM.

  • Eric g

    usually Iam against more government , But on health care Iam not . Something has to give , Our health care costs are esculating way faster than the rate of inflation . The bills the hospitals and doctors send out are completley bogus . They hire special people to send these bills , They have created a whole new industry called medical billing . They want evreyone to buy insurance , They do procedures for the insurance companies and medicare for one price , they charge individuals that pay their bills a differant price , often three times higher . When I have confronted them they tell me I dont understand a lot of people dont pay their bills . This is always the excuse over chargers use . My friend went to the doctor and got a bill he could not understand , So he told them I’am not going to pay unless you force me in court , by the way this guy was a millionare , and had good legal service . My poor neihbor with out insurance has been paying for a cut cheek over 20,000 dollars . I whatched a older lady grab a hold of a tree and hang on for all her might to prevent an ambulance from taking her to the hospital . She didnt want the medical care to take her house for a week in their hospital . And some republicans seem to think this the is the greatest health care in the world . They must be doctors or insurance agents . Oboma is right we can do better .

  • http://morrismycat@att.net Patricia

    I agree with all these wonderful people. The cause of our problems I think started with
    then President Clinton when he signed that bill lowering the mortgage rates so low
    and looking the other way when people applying for these didn’t have the money to
    live in these home. There salary didn’t match there home price. We all like nice things
    but what helped make this country great was everyone living within their means. I am
    for low taxes, price control, a decent salary for everyone. what we need to do is bring
    companies back to the U.S. and treat them right instead of charging astronomical taxes. All those politicians made money on the bale out at our expense.
    When people don’t have jobs they can’t feed their family. eat, or pay their bills. It’s
    our money they are wasting. We need to change how Washington does business.
    The people need to inact policities that Washington has to live by. They have way to
    much power. The tea party is good begining but we must do more. God Bless

  • james d

    We had 8 years of conservatism by a so called moral president now you see what we got for it all. two wars america is bank rupt, and people are protesting spending tax dollars here in america. why weren’t they protesting when bush and his buddys were bank rupting america. with two wars and out sourceing american jobs. guess they were to busy living the good old boy life. I’M SORRY. I WAS SELFISH. I WAS GREEDY. I WAS UNCARING. I WAS A REPUBLICAN. i am willing to give OBAMS 4 years and if he cant fix some of the mess of the last 8 years then vote him out. as for congress and the senate they all let this happen to pad thair pockets. vote them all out.

  • Rod

    Yes the (good ole boys), (lefties) (Dems.) or (what ever else you want to call them),
    are at it again and again! Give with one hand and take away with the other. The
    so called health care plan sponsored by none other than would you believe it?
    OBAMA. Every breath they take, every law they make is designed to take away
    your rights and turn America into a socialest government with good ole OBAMA
    as your dictator! Just like HITLER and the rest of those dudes, he will ultimatly
    FAIL! In the mean time, we have to help him do just that! We have to VOTE and
    call our Congressman and Senators, Democrate or Republican and remind
    them , they are representing us, the American people! NOT OBAMA! He is
    determined to not give anybody in Washington time to read what is in his stupid
    plan and dose not want it released to the public. He is also fighting to keep his
    birth certificate from being seen. He dose not want us to know it clearly shows
    he was born in Africa and clearly proves he cannot hold the office of the President
    of the United States! Now, we don’t want a pretend President , DO WE? We have
    to let him and his CRIMINALS know he is screwing with the CITIZENS OF THE
    UNITED STATES! We cannot and will not stand by and watch this creep and
    his CRIMINALS destroy our country!!!!

  • joan

    don’t you know that this was all planned by both parties. the president is a puppet being controlled. this has been in the works for many years. go to this site and read all about it. http://www.gedwardgriffin.com/
    read “The Creature from Jekyll Island” This is all about how the federal reserve started and that is when our problems started. Also the Council on Foreign Relations is the american branch of a society that organized in england and they don’t believe in national boundaries . they want One world government. People laughed at that years ago. they won’t be laughing now. also McCain, Dodd, Lieberman among many more on both parties are part of the CFR. They all wanted NAFTA and what happened. businesses folded then they wanted Cafta, they kept us very busy arguing about which political party was best. i don’t believe that all in government are corrupt and i only hope that the ones who see whats happening will try to correct it. it will only happen when all the people see the light.

  • Jon

    The democratic congress voted to give themselves a raise and not give it to the people who worked for it and earned it on SS. We got no raise and they passed their raise,[they really need it don't they!] and eliminated it for anyone else for 2 years. They should ALL be limited to 2 terms and pay ss and medicare. There should not be an automatic lifetime retirement, and as for thier 2700+ page health bill, the constitution says congress should have the same benifits as the citizens of this country, not a GOLD plated retirement they do not deserve. Let them have the same benifits that they want us to have
    in the 2700+ page[Health Bill???]and see how long it stays in effect!!!!

  • Chris

    Social Security increase.? I Got no increase.!…. None at all in my SS check.!

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