May
06
2009
By Guest (not verified)
I have been told that this stimulus check will result in a suspension of future raises of social security benefits for the following three years, is this true?
Forums:
Stimulus payment and future COLA increases
I have seen reports of no cost of living adjustments (COLA) for 2-3 years. However, there is no direct link between COLAs and the 2009 stimulus payment.
It is predicted that inflation will be low for 2-3 years, so COLAs will not be granted. COLAs are required by law when there is inflation. For example, President Obama's budget assumes no inflation-related COLA in 2010 or 2011, then a 1.4 percent COLA in 2012.