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Include volatile sectors of the economy when calculating inflation for cost-of-living adjustments to Social Security.

Created by E.G. on March 13, 2013

The cost-of-living adjustments (COLA) to Social Security benefits, Social Security Disability Income, and other such programs are currently calculated based upon inflation as determined by the Consumer Price Index (CPI). The CPI is notoriously open to manipulation, and it by definition omits so-called “volatile markets” like heating oil, gasoline and fuel, seasonal farm produce and foods, health care, and many other critical needs that real people actually do pay for. The result is that our nation increasingly impoverishes many of its most needy citizens with each year that passes. The COLA does not presently cover the increases in Medicare costs charged to the elderly and permanently disabled. Net benefits are actually decreasing each year, while prices continue to spiral up.

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