Lawmaker Wants To Revamp Cola

[allan]

Note: we all know our expenses went up..almost every local govt agency asked for a raise, taxes, sales, property, fees, fines, parking meters, beer, cigarettes, Cable, water, gas, elec, etc. To say that NO raise for Soc security, Retirees, VA compensation, Mil Retiree, etc is not warranted is BS

The current COLA based on CPI is a fraud…Let your Congress know.. change the way CPI/COLA is figured…ColonelDan

Army times Page 18, 12/21/2009

Lawmaker wants to revamp COLA

WHAT’S UP: Rep. Eliot Engel, D-N.Y., knows how to give voters what they want. He introduced a bill Dec. 3 that would guarantee a minimum 3 percent annual increase in Social Security benefits, which would result in an identical increase in military and federal civilian retired pay. His bill, HR 4193, also would order the government to come up with a new way to measure consumer prices specifically for the elderly. The bill, HR 4193, was referred to two major committees, the House Ways and Means Committee and the House Education and Labor Committee.

WHAT’S NEXT: There is no chance that Engel’s legislation will pass in time for a retroactive COLA for this year; retirees received no adjustment Dec. 1. It is also not clear that the bill could ever pass. Promising a minimum 3 percent-a-year increase is a fundamental change in a COLA plan designed to protect purchasing power, not provide pay raises. And it’s not clear that switching to a special consumer index for the elderly would result in bigger increases. The Congressional Research Service, looking at consumer prices from 1983 through 2007 to see whether a special elderly rate was needed, found that in most years the elderly experienced overall price increases that were three­tenths of a percentage point higher than for the under-62 population, but there also were years when prices were lower for the elderly.

"Keep on, Keepin' on"

Dan Cedusky, Champaign IL "Colonel Dan"

See my web site at:

http://www.angelfire.com/il2/VeteranIssues/

[broncovet]

I agree. First there was the "fuzzy math" that demonstates that 80% plus 20% equals 80%.

Then there was the fuzzier math that says 50% of $2673 is $770.

The fuzziest math of all says that while VA executives are awarded big bonuses, Veterans get zero.

Lawmakers blame the "fuzzy formula" that calculates Cola..I say it is the fox guarding the hen house who says the foxes deserve more to eat but the chickens..well they just keep disappearing.

Edited December 15, 2009 by broncovet

[jbasser]

broncovet, I bet if we look for this next year, It will be in the same place as the 25 percent increase or the SMC increased proposed this year.

lost in committe and in the crapper.

J

[timetowinarace]

This won't go anywhere and Rep. Eliot Engel knows it.

But, he can campain on it in his next election.

Pure publicity.

[broncovet]

I agree with Basser..the current administration's idea for a Veteran's Cola is to put pop machines at the VA medical centers charging $1.50 for each Cola, in order to generate more revenue for va. As far as raises going to Veterans..well that is zero for at least the next two years.

[Pete53]

I am getting tired of speculation fueled by speculation.Lets deal in the now instead of what if. Please.....

[Teac]

I am getting tired of speculation fueled by speculation.Lets deal in the now instead of what if. Please.....

Pete I am with you.... we have problems that are real and need to be dealt with now, to worry about a COLA is a waste of energy like it or not.