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“More than 58 million retirees and disabled Americans will get no increase in Social Security benefits next year, the second year in a row without a raise.

“The Social Security Administration said Friday inflation has been too low since the last increase in 2009 to warrant an increase for 2011. The announcement marks only the second year without an increase since automatic adjustments for inflation were adopted in 1975. The first year was this year.” (AP, Friday)

And it’s still going broke.

FEE Timely Classic:
A College Fund on the Social Security Model” by William Connerly