Credit Talk USA - 55 Million will get Social Security check raises 3.6%

http://money.cnn.com/2011/10/19/news/economy/Social_security_cola_increase/index.htm?iid=HP_Highlight

Senior citizens will soon get their first raise in three years, the government announced Wednesday.

Social Security recipients will receive a cost of living adjustment of 3.6% starting in January.

Because inflation has been very low in recent years, beneficiaries have not gotten a COLA increase since 2009, when they received a 5.8% boost.

However, most seniors are not likely to receive the full amount of the COLA increase because the expected hike in Medicare Part B premiums could eat up part of the raise. The change in Medicare premiums should be announced next month.