USA Headlines

Written By: the ECJ Staff  |  Posted: Wednesday, October 27th, 2010

Those on Social Security are Actually Receiving More than they Should
The Social Security Administration announced that recipients of Social Security will not receive their usual cost of living allowance in January of 2011. This would be the second year in a row that the elderly and disabled who use the Federal program will not get their "raise". The reason why? It's not necessarily because of a lack of funds. According to the Associated Press, 2009's cost of living increase was a whopping 5.8%. If you remember the fall of 2008, gas prices were over $4.00 a gallon. This resulted in a higher than usual Consumer Price Index, which determines how large of an increase SSA recipients get. Since the Consumer Price Index fell back down along with the gas prices the next year, and still hasn't grown to its 2008 level, those receiving Social Security are actually receiving more than what they should be.

Foreclosure Freeze Means More Economic Bad News
The recent freeze on foreclosures by the major national mortgage lenders could give our hopes of an economic recovery some damage. With hundreds of thousands of homes under foreclosure, including 338, 836 notices sent to homeowners in August alone according to RealtyTrac Inc., this will affect the whole country's housing and banking industries.

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