Friday, August 19, 2011

Is no cost of living increase for Social Security due to no inflation economic larceny?

There appears to be some dishonesty involved in calculating the cost of the basket of consumables and durables on which the cost-of-living index is based. This basket should always contain the same amounts and qualities of the quantities required by an average family of four (?) souls. From what you describe, the quantities in the basket have gone down so that the total cost has not had to be increased and the COLA remains zero.

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