2008 COLA Announced, Medicare Increase Wipes it Out

Social Security benefits will increase 2.3% next year, administrators said Wednesday. The cost-of-living adjustment, beginning in January, impacts Social Security benefits received by almost 50 million Americans.
The estimated average monthly Social Security benefit payable to all retired workers will be $1,079 after the adjustment compared with $1,055 before. For a couple both receiving benefits, the level will rise to $1,761 from $1,722. For a widower, the benefit will rise to $1,041 from $1,017, on average. See full story here:

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