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No COLA Hike for Social Security in 2010

Obama Calls on Congress to OK $250 Payments for Millions of Seniors

By STEPHEN OHLEMACHER
,
AP
posted: 117 DAYS 23 HOURS AGO
comments: 2
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WASHINGTON (Oct. 15) - There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975, the government announced Thursday.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-10-14 19:10:34

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President Barack Obama called on Congress Wednesday to approve $250 payments to more than 50 million seniors to make up for no increase in Social Security next year. The Social Security Administration is scheduled to announce Thursday that there will be no cost of living increase next year. By law, increases are pegged to inflation, which has been negative this year.