SSA COLA!

From Yahoo News:
"Social Security recipients to get 3.6 percent COLA"

Some 55 million Social Security recipients will get a 3.6 percent increase in benefits next year, their first raise since 2009, the government announced Wednesday. The increase, which starts in January, is tied to a measure of inflation released Wednesday morning. About 8 million people who receive Supplemental Security Income will also receive the 3.6 percent cost-of-living adjustment, or COLA, meaning the announcement will affect about one in five U.S. residents. There was no COLA in 2010 or 2011 because inflation was too low. Those were the first two years without a COLA since automatic increases were adopted in 1975. Monthly Social Security payments average $1,082, or about $13,000 a year. A 3.6 percent increase will amount to about $39 a month, or just over $467 a year, on average. Advocates for seniors said the raise will provide a much-needed boost to the millions of retirees and disabled people who have seen retirement accounts dwindle and home values drop during the economic downturn. Economists say the increase should provide a modest boost to consumer spending, which should help the economy. Most retirees rely on Social Security for a majority of their income, according to the Social Security Administration. Many rely on it for more than 90 percent of their income.

^ I know many people rely on this monthly money and am glad it is going up for the first time in two years. Seniors and the disabled deserve all the help we can give them and this is one step in the right direction. I only wish there were more programs and services to help them live without worrying about medical care, housing, food, etc. ^

http://news.yahoo.com/social-security-recipients-3-6-percent-cola-124350733.html