Mid Year Cola Increase

[myround0]

The U.S. economy grew a better-than-expected 5.7% in the fourth quarter of 2009, marking two straight quarters of GDP growth, the U.S. Commerce Department announced Friday

If this holds through the next quarter, do you think we might be headed for a mid year increase, of maybe 5 percent, and if it continues though the end of the fiscal year maybe another 5 percent in December. I, for one, would be willing to not even ask for any retro action if we could get two increase in one year. Or maybe we could be headed for a double digit increase in December.

The way I read this is the last two quarters of 2009 would have to be April-June of 09, and July-Sept of 09. I say great news, hopefully something will come our way. SOON...

THIS IS NOT A POLITICAL DEBATE, PLEASE STAY ON TOPIC:

[Pete53]

There will not be an increase this year.The COLA is based on a consumer price index that measures some parts of inflation. The increase is the first part. You will get a Cola increase when inflation goes up not more spending in the economy.

I am going to remove the three other duplicate posts you made. Hadit web page is updated every night at 2 PM CST and if its moving slow do not keep hitting the post box. Just click it once and if it starts to load and you can't wait open up another browser and do some surfing till it finishes

Please

[broncovet]

Any "mid year Cola increase" would have to be a bill passed by Congress and signed by the president. Since our congress/president have not indicated any desire to introduce/pass such legislation, IMHO you have a better chance of getting more money by buying a lottery ticket.

[JRW]

The comment, listed below, was taken from this website.

http://www.thedisabilitydigest.com/blog/227/disabled-and-need-a-cost-of-living-raise/

"Douglas W. Elmendorf, director of the Congressional Budget Office, predicted that inflation would remain low for several years, so Social Security might not pay a cost-of-living increase until January 2013. President Obama's budget assumes no increase in 2010 or 2011, then a 1.4 percent COLA in 2012."

If the above holds true, 2012 looks to be a very small increase.