The announcement that Social Security's 2014 cost of living adjustment, or COLA, will be 1.5 percent generated about 50 comments on the retirement planning blog on this topic. Many of them were angry assertions that the government has mismanaged Social Security. In other cases, the commenter misunderstood the facts. Here is a round-up of more thoughtful opinions. You might not agree with what they have to say, but they say it well.
"Government gives us a big raise of 1.5 percent. That is BS. Where do they go shopping for food? I live on my Social Security, which is low, so I am considered poor. What does government do? It lowers food stamps. Can the big shots live on this amount? It's time for all Americans to run these thieves out of town."
"I am just scared. At 78, I rely on every penny, and I feel I am at the mercy of the government. I don't believe I can do anything about it. It is just a very stressful time."
"I worked and paid into the Social Security Fund almost 45 years. As a retiree, Social Security represents the major part of my income. I would gladly 'make do' without any increase if it would help our country to become solvent. Our greatest need is for government to stop excessive spending and focus on growing the economy, which would create jobs so able-bodied people could be working to support their families and paying taxes. My greatest concern is that future generations will have to live on much less as they pay for the problems we've created. Hopefully, someday problems will be solved by working together without regard to political views."
End the Ponzi scheme:
"Stop calling Social Security a retirement plan. It's not. It's a backstop to prevent the elderly from starving. If you really don't plan for your retirement, why should I have to support your 'lifestyle' in retirement? It's outright theft if you increase the tax with no comparable benefit increase."
"Well, a little bit of something is better than a whole lot of nothing. I'm thankful for the extra $19 a month."
What do you think about Social Security and the 1.5 percent 2014 cost of living adjustment?