Daily Article
Tuesday, July 08, 2008
by
Mark A. Pribonic
Contrary to the myth, workers in the private sector have little ability to increase their nominal wages during times of rising prices. But the same cannot be said for the recipients of government checks. Instituted under federal legislation passed in the 1970s, citizens receiving Social Security and Supplemental Security Income get an automatic increase in their checks every December that partially compensates for the rising costs of daily living.
read more…