POSTED: Sunday, October 17, 2010 - 5:21pm
UPDATED: Sunday, October 17, 2010 - 9:00pm
No increase in benefits for 2011
An estimated 58 Million Americans receive social security checks. Many Americans live on that money.
However, the government recently announced some more bad news for social security - there won't be an increase in benefits for 2011.
It's because of inflation. Inflation has been too low to warrant an increase in social security benefits for 2011. The last increase was in 2009. So this year didn't see an increase either.
According to the social security administration, the average benefit is a little over a thousand dollars a month.
Vivian Wagner is retired and on social security. She says she wouldn't be able to make it without her husbands income.
"I don't know how we're gonna live if something happened to my husband. I'd be just as destitute as they were - you know - the people that have been getting it all along and depend on solely that - that's the sad part of it," Wagner said.
2011 will mark the second year without a social security increase since automatic adjustments for inflation were adopted in 1975.