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Social Security beneficiaries, federal retirees won't get cost-of-living increase
[Wash Times] Social Security beneficiaries and federal retirees won't see any raise in their checks next year after a still-sluggish economy sapped inflation in 2015, the government announced Thursday as it reported the smallest deficit of President Obama's time in office.The government ended up $439 billion in the red for fiscal year 2015, the Treasury Department reported, as it set new records for spending at $3.688 trillion, but saw tax revenues surge even more quickly. Still, even though the red ink is spreading more slowly, it's still accumulating in ever-deeper debt, and Treasury Secretary Jack Lew warned Congress in a new letter that the government will run out of borrowing room on Nov. 2, forcing yet another deadline showdown on a Capitol Hill that is already overwhelmed with political fights. Posted by: Besoeker 2015-10-18 |
| http://www.rantburg.com/poparticle.php?ID=433034 |