In the last couple of months, we have come across several shocking revelations regarding our Social Security.
Despite what President Trump promised, even before his inauguration, seniors are still not getting the benefits they so badly deserve.
As our sources informed us, the U.S. Social Security office itself has found a way to short change every S.S. recipient in our country, by using creative accounting.
That’s right. According to Seeking Alpha, the strategy used to determine the Social Security COLA falls behind the official inflation numbers.
The COLA is reportedly based on the underrated Consumer Price Index for Urban Wage Earners as well as Clerical Workers (CPI-W) instead of the ‘headline’ inflation number which you read about every single month.
Over the last years, the Social Security Administration has failed to look at a full year of CPI-W to determine the COLA. Instead of that, it uses the average index for months of the third quarter such as, July, August and September. By drawing the average data from three months, the formula weakens the effect of the inflation spike one or two months could do.
That is exactly what happened this year.
In the years where our country’s Social Security had been experiencing a deflation instead of inflation, the COLA was set to 0.0 percent which basically forces the formula to skip that year in determining the next year’s COLA. In the last decade or so, we have experienced two deflationary years. However, this ‘skipping’ mechanism has resulted in three years of 0.0 percent COLAs.
As reported, the Social Security office calculates your Cost of Living Allowance by using some, if any at all, math. They are certainly not accounting for inflation and to top it all off they are only examining certain months out of the year, which if you ask me, is nothing more than a strategy to lower the amount of money that they send out.
This should come as no surprise. The U.S. government has always been good at stealing money from hard-working Americans. Especially during the Obama-era. However, I strongly believe that President Trump will put a stop to all of this and give back to the people.
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