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2016 Social Security Increase Will Probably Disappear

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2016 Social Security Increase Will Probably Disappear

Social Security supports millions of Americans in their retirement, and many of them depend on the program for the vast majority of their overall income. Yet even though retirees have had to make do with minimal cost-of-living increases in their benefits in recent years, early signs suggest the Social Security increase for 2016 could be smaller still — or even disappear entirely.

What goes into calculating your Social Security increase for 2016
Like many of the numbers the government works with, the Social Security Administration indexes benefits to the rate of inflation. New payment rates take effect every January for retirees and other Social Security recipients.

You don’t have to wait that long, however, to determine the number. Specifically, the SSA takes an average from the Consumer Price Index for July, August, and September. It then compares that average to the number from the previous year. The resulting percentage increase corresponds to the amount by which Social Security benefits are adjusted upward to reflect rising costs of living.

Obviously, inflation figures for the summer months are still a long way away. But if you look at April’s CPI figures, you’ll notice the index’s current level is well over a full percentage point below the three-month average from 2014. This means that even if inflation rises at a more typical rate between now and September, it’s unlikely to rise enough to catch up with the drop in the index over the past six months. As a result, the cost of living adjustment could evaporate, leaving Social Security recipients getting exactly the same amount in 2016 that they received this year.

A history of low COLAs
Unfortunately, retirees have had to struggle with small cost of living adjustments for several years. The rise for 2015 was 1.7%, following an increase of 1.5% in 2014 and 1.7% in 2013. Only in 2012 did Social Security recipients collect what seemed like a sizable bump in their monthly checks, a cost of living adjustment amounting to 3.6%.

Even if Social Security recipients don’t get any increase in 2016, it wouldn’t be an unprecedented event for the program. In both 2010 and 2011, the SSA made no changes to overall benefit payments, as dramatic declines in prices kept the inflation rate negative during both years.

Indeed, some retirees’ monthly checks might decline in 2016 if prices keep up this behavior. Many Social Security recipients have Medicare premiums taken out of their monthly payments, and if those premiums rise, it could result in smaller net amounts being paid to retirees. Many retirees faced this situation in 2010 and 2011.

Be ready for no Social Security increase in 2016
The only silver lining in a year in which Social Security doesn’t pay a COLA is that low inflation should — at least theoretically — be good for retirees. If price levels stay constant, then your money will keep going as far as it did in past years. That can make it easier to make ends meet on a fixed budget.

Many retirees, though, are convinced that the inflation figures on which Social Security cost of living adjustments are based don’t reflect their actual expenses. With a different set of priorities than typical American adults, retirees can experience personal inflation rates far in excess of what government figures state.

Nevertheless, without full-blown Social Security reform, recipients are likely to endure an even more painful year of flat benefits than they have faced in recent years. Unless trends such as cheaper gas prices reverse themselves quickly, retirees will have to get used to the idea that their monthly Social Security benefits aren’t likely to rise until 2017 at the earliest.

Written by: Dan Caplinger

Entrepreneur, contributor, writer, and editor of Sostre News. With a powerful new bi-lingual speaking generation by his side, Sostre News is becoming the preferred site for the latest in Politics, Entertainment, Sports, Culture, Tech, Breaking and World News.

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Developments in Presidential Race, Trump does Terribly at Forum as Clinton shines

November is lurking around the corner and will be here before you know it, so my question to you is, have you decided who you will vote for? I have, and I proudly say my choice is Hillary Rodham Clinton. I am informing you all that there are ample development in the race for the presidency of the United States…

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November is lurking around the corner and will be here before you know it, so my question to you is, have you decided who you will vote for? I have, and I proudly say my choice is Hillary Rodham Clinton. I am informing you all that there are ample development in the race for the presidency of the United States.

First of all, Donald Trump, according to Kristina Vong’s article at Thehill.com, wrongly corrected a veteran Marine during a forum. The veteran, a woman named Rachel Fredericks, asked Mr. Trump how he plans to stop 20 veterans from committing suicide, daily. Trump tried to correct the woman, who needed no correction. He said it is actually 22, trying to emerge correct, when he was essentially incorrect.

Mr. Trump also does not have a real plan to defeat ISIS, as “his plan is to have a plan” according to Igor Bobic at the Huffington Post. He also insulted military leaders calling them embarrassments to the country when they were under President Obama. He wants to give the generals 30 days to come up with a plan to defeat ISIS.  Of course, this even makes it more obvious that Mr. Trump does not have a plan to defeat ISIS. Why, then did he call our current president the founder of ISIS? How can you give your vote to someone so unprepared and unfit for the presidency that constitutes a whole country? Sorry to say, but Donald Trump is not someone to vote for, at least not as US President!

According to Sean Colarossi at PoliticusUSA.com, a presidential forum highlighted how prepared Trump and Clinton are compared to each other, with Clinton appearing as the more prepared one, very easily. Clinton was engaged with questions, expressed gratitude, and was very prolific and intelligible in her responses. To reiterate, Trump has not a plan to defeat ISIS, where Hillary has a well thought-out plan. She outlined her plan, entailing it could take any form and she iterated and supports the idea that terror suspects should not be able to purchase firearms. Clinton also covered issues like mental health, illuminating the fact that it is overlooked, and mental health should no longer be stigmatized and victims of mental disorders should have access to resources. On the other hand, Trump gave generic answers like that he knows what is going on in the world. Also according to Colarossi’s article, Trump showed as an “empty suit” and “showed he is not prepared to be commander-in-chief” and that the contrast between him and Clinton could not be clearer”; this essentially means Clinton showed to be immensely more prepared to lead and did not focus on attacking others, like Trump’s approach does.

Lastly, Donald Trump has insulted women, children, ethnic groups, religious groups, his opponent, our current president, the military, and the list goes on. He is patronizing and unprepared to preside over our country as well. He constantly attacks others, with no action in mind. Consider if you want to have him as president, seriously!

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Politics

Senator Elizabeth Warren Highlights that Trump is a “Racist Bully” and that a Vote for Jill Stein Would Only Help Trump

Senator Elizabeth Warren recently, and I must say, very appropriately, called Donald Trump a “racist bully.” She said also that a vote for the Green Party’s presidential nominee, Jill Stein, is essentially a vote for Donald Trump…

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Senator Elizabeth Warren Highlights that Trump is a "Racist Bully" and that a Vote for Jill Stein Would Only Help Trump

Senator Elizabeth Warren recently, and I must say, very appropriately, called Donald Trump a “racist bully.” She said also that a vote for the Green Party’s presidential nominee, Jill Stein, is essentially a vote for Donald Trump.

Adding to her speech at Roxbury Community College, the senator said,  Trump has constantly proven to be a “thin-skinned, racist bully.” She then said his approach is hateful, with parts of his campaign being based on hate and that it is not characteristic of our country: that our country “is better than that.”

Warren then took the stance that, no, voters should not vote for Dr. Jill Stein over Secretary and Democratic Presidential Nominee, Hillary Clinton. Her reasons are simple. Anything can be precocious in getting Trump even inches closer to the White House, as she said in essence. Warren then suggested directly that a vote for Stein is a vote that brings Mr. Trump closer to the White House.

Also today, Dr. Stein even voiced more apprehensions and warning about Donald Trump. She did so by calling him a neo-fascist, basically. She generally suggested in her interview with Democracy Now, that Trump resonates fascist qualities of leaders of the past. This makes it clear that a vote for Trump is a vote for misfortune and peril in the United States.

Recently, on “Hannity” on Fox News, Trump generalized minorities once again, fabricating a vibe that illegal immigrants have been acutely responsible for deaths and fatalities in the country. One woman came forward, saying this is not an isolated issue. Trump, once again, has me disappointed in him and terrified if he gets elected.

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The Hillary 2016 App To Support The Current First Democratic Nominee To Win The Election

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The Hillary 2016 app created by Hillary for America is designed to help recently nominated official democratic nominee Hillary Clinton win the 2016 Presidential nomination.

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The app is designed with special features to help all Clinton supporters do small everyday tasks to help her win the election.The app allows users to compete with friends by completing daily challenges online ,users can also earn rewards,design their own campaign,share news and information ,test their knowledge to become an expert on current issues and more.

The app has a rating of 4.5 stars on the app store and ratings of users include good reviews like “Finally, a mobile experience to compete with Pokemon Go (to the polls!). I’m a millennial, so trust me. I know a lot about phone games” ,from user rater Catmandu, Toucan Too .

 

rawImageWith current news of Hillary Clinton’s nomination as the first woman democratic nominee to make national history on Tuesday night during the Democratic National Convention she’s closer to becoming the next president of the United States.

On Tuesday night during the DNC in Philadelphia,  Clinton supporters helped her win her way to victory with help from Senator Bernie Sanders by announcing his endorsement in support.Despite the  division of Bernie and Hillary supporters at the convention her ruling support numbers and support from Bernie granted her victory.

During his delegation in which his state of Vermont had decided to go last on the roll call ,Senator Bernie Sanders decided to go in and called  on his supporters to name her the party’s official nominee.

 

US Democratic presidential candidates Hillary Clinton (L) and Bernie Sanders shake hands before the CNN Democratic Presidential Debate at the Brooklyn Navy Yar on April 14, 2016, in New York. Hillary Clinton and Bernie Sanders take their increasingly acrimonious battle for the Democratic White House nomination to a debate stage in Brooklyn ahead of the key New York primary. / AFP / Jewel SAMAD (Photo credit should read JEWEL SAMAD/AFP/Getty Images)

Sanders urged supporters by saying”,…I have that Hillary Clinton be selected as the nominee of the Democratic Party for president of the United States.”

Many of Sanders supporters cheered in agreement to his endorsement of Clinton while many reacted in retaliation by walking out on the convention and others marched in protest while chanting “walk out” and “this is what democracy looks like”.Others staged a sit in the convention center.

 

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