Stagnant Prices Prevent Social Security Increase

Social Security recipients will not receive a cost-of-living adjustment (COLA) to their 2010 benefits. The COLA will not be made for this first time since the adjustments began 34 years ago due to consumer prices falling in the July through September quarter this year. President Obama has issued support for a one-time, $250 payment to Social Security beneficiaries to hopefully bolster the finances of seniors who are suffering from the economic downturn and are accustomed to an increase in their monthly checks every January.