No cost of living increase for Social Security

August 24, 2009 3:17:08 PM PDT
Millions of Americans who rely on Social Security may see less money in that government check, mainly due to no adjustment in the cost of living.In fact, there will be no cost of living increase for the next two years because of deflation. However, because of deflation, seniors are able to buy more for their dollar.

Still, many seniors will see a slight increase in their Medicare premiums. It was just this past January that Social Security beneficiaries saw an increase of 5.8 percent, the largest since 1982.

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