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Social Security benefits for 2017

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  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    According to the Social Security Administration, recipients of Social Security benefits will get a 0.3 percent increase in their monthly benefits (COLA) for 2017. That includes healthy retirees like me.

    For the workers paying into the system, all I can say is we appreciate it. Keep up the good work.

    Social Security Administration: Social Security Announces 0.3 Percent Benefit Increase for 2017

    I shouldn't be sarcastic. The system is what it is. Nothing will change as long as we have a divided America and keep re-electing members of Congress with their own agendas. Ironically, the people who benefit the most from Social Security benefits are many of the Republican Trump supporters...the "deplorables" who hate our government.

    Questions on how it is calculated? See the CPI Frequently Asked Questions.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Close to $4.50 a month on the upper end.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Since there were no increases in Social Security benefits in 2015 and 2016, the change in the cost of living is measured against the CPI numbers for 2014. In other words, the 0.3 percent increase is the real increase in the cost of living since 2014. The numbers for 2015 and 2016 were near zero or negative....hence zero.

    Of course, these numbers are subject to debate depending on how you spend your SS income. I have been a long time advocate for the chained CPI, and will update my spreadsheet for that calculation after I return to the USA in a few weeks. For now I'm spending my Social Security income drinking South African wine...it's excellent.

  • Independent
    Ft.myers, FL
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    Schmidt Wrote:

    Since there were no increases in Social Security benefits in 2015 and 2016, the change in the cost of living is measured against the CPI numbers for 2014. In other words, the 0.3 percent increase is the real increase in the cost of living since 2014. The numbers for 2015 and 2016 were near zero or negative....hence zero.

    Of course, these numbers are subject to debate depending on how you spend your SS income. I have been a long time advocate for the chained CPI, and will update my spreadsheet for that calculation after I return to the USA in a few weeks. For now I'm spending my Social Security income drinking South African wine...it's excellent.

    So Schmidt, how was your trip? It must be cheap wine, because you got only an $ 4.50 raise on your social.
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Hey Schmidt,

    Not trying to be an annoying nitpicker here, but we should really be thanking the people who work to make the real stuff and provide the services that retirees purchase with their Social Security dollars.

    The payroll tax mechanism is a policy choice and not necessary for operations. But you absolutely have to have workers producing 'stuff.'

    The more stuff that can be produced, the more generous Social Security benefits could be.

    That's why the best defense of Social Security is a booming economy with full employment.

  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Carlitos -- I agree with you. As we both know, the so called Trust Fund has been invested in interest paying government bonds, but those bonds need to have workers continually paying into the system in order to pay out benefits. I much prefer that Social Security benefits be paid out of the general fund instead of the political hot potato of a payroll tax and Trust Fund, which has become the subject of so many conspiracy theories (e.g. government stealing the money).
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Benefit of full employment is the luxury of freedom from cyber attacks on the electric grid.
  • Democrat
    Hot Springs Village, AR
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    My Medicare premiums went up so my SS raise was a minus $77.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    The new Democratic War Cry has to be "Peace and Prosperity Full Employment".