Bad News on COLA’s for 2010

The New York Times reports that there will be no cost of living (COLA) increase in checks for 2010. Another impact of the bad economy for recupients of disability and retirment income. The Times says ” for the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.

“The absence of a cost-of-living adjustment, calculated under a formula set by law, will be a shock to older Americans already hit by plummeting home values, investment losses and rising health costs. More than 50 million people receive Social Security. See article here: