Debt Ceiling Vote

This is all getting really ridiculous with all the bi-partisan fighting between the two sides.  The House is struggling to pass a measure that is going to get voted down by the Senate.  Its unclear if the House would pass the measure that the Senate can pass.

Its clear now that the Republican party has no interest in doing anything that will help this country move forward.  Their only goal is to filibuster any attempts to move this country out it its current economic fiasco to make Obama look bad.

The markets has spoken with the huge decreases this week.  Let see if these guys can manage to do the right thing and pass legislation for the benefit of the country.

At the same time, the President needs to get off his ass and start trying to lead this thing.  He should have put out a proposal instead of taking this position of letting the two parties come up with a solution.  But who knows!  Maybe he knew there was no point in putting out his own proposal because nothing would get down as evident by what is transpiring now in Congress.

No Cost Of Living Adjustment

Beginning in January 2010,  Seniors will not get a cost of living adjustment in their Social Security checks.  Normally, Seniors get a two to three percentage increase in benefits.  That might seem like much but with increasing medical cost rising each year that is going to hurt.

Social Security benefits are adjusted every year to keep up with inflation.  Adjustments are based on the Consumer Price Index for urban wage earners between the third quarter (July-September) of the previous year and the third quarter of the current year. The 2010 COLA will be based on a period marked by sharp drops in prices and deflation.

This will also be the case for the year 2011 as well unless Congress makes some changes.  Senior won’t see a modest increase until 2012.