From mil.com Military and federal civilian retirees, veterans receiving disability compensation and Social Security recipients will get a 2.3 percent cost-of-living adjustment in January.
The members of the right-wing (who never served a day in the military because they had "better" things to do with their life) would tell us that "2.3 percent is good money for doing nothing in the here and now".
(Didn't the President originally think that 2.3 percent was too much?)
I guess we have no choice but to take it. However, on the long run, it will cost us if you do the compounded math. And no, I don't buy the "better than nothing crap" many like to say...especially those who only served as a Boy Scout.
Sorry, but I'll take any raise they want to give me.. it IS better than nothing..If you don't REALLY believe that you would send it to me.... so, if you want, I'll send you my address..
Don't take me wrong, of course I'll take it. But make no mistake, we are getting shafted. Just to keep it simple, if your retirement pay is $36K/year and you get 2.3% COLA, that means your new retirement pay will be $36,828. But it if was 3.5% then it would be $37,260. Why we get shafted, because the next COLA applies to $36,828 and not $37,260. The higher the base amount the higher that COLA. It's a domino effect. That's why on the long run, a high COLA means higher COLAs on subsequent years. That's the compounded effect. To double check, as an example (assuming that for 2009 we get 3%) multiply it against $36,828 and then $37,260. Which one will give you a higher new retirement pay?
2.3 percent? Hell! That's good money as compared to what my wife's school district is offering as a cost of living adjustment to the teachers. 0% is in actuality, a pay cut, considering the current rate of inflation.
But hell, why to we even bother to pay labor in the first place? When will employers demand a kickback for the privilidge of working for them?
