It makes no sense to me. I don't understand why the COLA for seniors is ONLY based on one cost of living, gas. Since I retired, my expenditure on gasoline has dropped dramatically because I drive less while the cost of everything else has risen.
With all of the taxes we pay now, why is the low price of gas causing Social Security not giving a COLA raise this year? Does this make sense to you? It sure doesn't to me.
Just a thought, could it be that the taxes from the sale of gas are a % and thus the government is not getting nearly as much money as when gas prices are high? Plus the cost of living may also include the price of gas.
Social Security and Supplemental Security Income (SSI) benefits are adjusted to reflect the increase, if any, in the cost of living as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) prepared by the Bureau of Labor Statistics (BLS).
It's part of their strategy of making everybody "equal" in wealth.
The only way to do so, is to make everybody poor.
Part of that includes making people give up private ownership of homes. Easiest way to achieve that, is to make people use the "reverse mortgage" ... So when they die, their family can't inherit the home because of the mortgage on it.