Social Security recipients will receive a cost of living adjustment of 3.6% starting in January, their first raise in three years.
Because inflation has been very low in recent years, beneficiaries have not seen an increase since 2009, when they received a 5.8% boost.
However, most seniors are not likely to receive the full amount of the increase because an expected hike in Medicare premiums could eat up part of the raise. The change in Medicare premiums, which could increase by a double-digit rate, is expected to be announced next month.
Tea Party to Businesses: "Stop Hiring!"
Just when I think conservatives can't surprise me any more, they surprise me with another jaw-dropper. And, no, I'm not talking about the recent Republican debate — though that yielded some real stunners, both from the candidates and the studio audience.
I'm talking about the latest attempt by conservatives to (further) sabotage the economy and smother any hope of recovery. There have been a more than few. But this latest one takes the cake.
The tea party has a message for American businesses: "Stop hiring!" Read more
The latest news from and analysis of the "Occupy" movement:
--Occupy Wall Street has raised an impressive $435,000 so far, $85,000 of which was donated in-person at Zuccotti Park. What is that money being used for? "The protesters have been spending about $1,500 a day on food, and also just covered a $2,000 laundry bill for sleeping bags and jackets and sweaters. They’ve spent about $20,000 on equipment such as laptops and cameras, and costs associated with streaming video of the protest on the Internet." [via the AP] Read more