SSD increase for 2009 is 5.8%. I'm not sure if that is good news or bad news.

[Lil Missy]

Something tells me the cost of living is going up by 25% over the next year.

A fixed mortgage rate is probably a good thing. But I am braced for unpleasant surprises.

How'd we get in to this mess anyway? Oh, yeah .... bush :eyes:

[pinto]

1. It's good news to this recipient. Last year it was 2.1%, iirc? 09's COLA will pay a bill.

[Lil Missy]

5. I don't recall ever getting over a 2% or 3% raise since * took, (stole) office.

So I was shocked to see that 5.8% raise for SSD.

It's only good news if other expenses don't go up more than that.

:hi:

[BrklynLiberal]

2. It's better than nothing which is what I would be getting if not for SSD

[Lil Missy]

8. Indeed. And at least we do have an income we can count on.

I never dreamed I might be better off being disabled. (With a fixed income.) But there you have it.

[BrklynLiberal]

10. Right. Who would have ever guessed....

[Veritas_et_Aequitas]

3. At this point, whenever I see a statistic relating to the economy, I just go into a blind panic. nt

[tularetom]

4. It's not good news if you're on Medicare and made money in 2007

I got my notification of my 5.8% raise last week. In the same letter they informed me that they were means testing Medicare and making adjustments to premiums based on your 2007 income. In 2007 I sold a piece of property that I owned for many years and had a ginormous (for me anyway) capital gain. This resulted in increases to my wife and my Medicare premiums that almost wiped out my benefit increase.

Hopefully the premiums will be adjusted downward in 2008 when they see that my income has retreated to its normal paltry level.

[Lil Missy]

11. They giveth with one hand, taketh with the other. I'm still not sure how my Part D is going to work.

[pinto]

15. Ouch. But Medicare remains a great value for the buck.

I'd love to see Medicare access expanded to all.

[pnwmom]

6. Why would the cost of living go up by 25%? My personal crystal ball

disagrees, FWIW.

[Wiley50]

7. Wonder if the COLA is the same for SSI disability?

I'm getting $637/mo this year.

5.9% would put me up around $675, I think

(too lazy to look for a calculator)

[Lil Missy]

16. I did a search and could not find SSI for TN specifically. But looks like at least 5% for SSI too.

[newfie11]

22. yes it is (SSDI)

[cliffordu]

9. Fock, I'm RICH!!!!

on the other hand...5.8% is better than nothing.

I'd be on the street without it.

[Lil Missy]

13. Yes, and I did not mean to sound like I was complaining.

I'm just a cynic at heart, so I naturally get suspicious that a 5.8% raise is going to cost me through the nose.

It's genetic. :)

[cliffordu]

17. Watch for any medications you need to go up right with the benefit increase...

Those folks never miss a thing.....

[Selatius]

12. If the government were honest with inflation reporting, the COLA adjustment should be 8-9%, IMHO.

The inflation the last several years has been terrible. Of course, if the government only reports inflation minus both energy costs and food price inflation, then the inflation looks pretty damn tame, but humans need gas to get to work, and humans need food to live.

[Lil Missy]

14. Thank you. That is exactly what I am talking about. n/t

[GoesTo11]

18. Good news compared to salary freezes and layoffs.

[Lil Missy]

19. Yes. Indeed, everything is relative. n/t

[Lil Missy]

20. kick for the morning crowd.....

[Skarbrowe]

21. I'm very shocked and appreciative of my 5.8 (?) increase. I feel

rich!! I remember when I was much younger and would have loved to have made what I make a month on SSD. Now, that amount won't rent a mid-range apartment. I luckily live with someone who doesn't charge me rent and the VA pays for all my medical bills. That includes about 14 medications. I can not complain. I'm very, very fortunate. I guess this is what it would feel like if we had universal health care. Of course I did have to go broke to get this. Eh, as long as I stay poor on paper I can feel somewhat comfortable about any health problems. I think.

[JJ]

23. Cost of living will go down.

The 5.8% is for the increase in the cost of living over the last year, which, considering energy and food prices, was way more than a single digit increase.
The one silver lining to a depression, at least for those with a guaranteed "fixed" income.
Less competition for goods and services will cause prices to go down.
However, the following years will hurt, after the stimulus gets the economy, and inflation going again.