20 Courthouse Sq. Ste 216
Rockville, MD 20850
Kendall Capital
20 Courthouse Square
Suite 216
Rockville, MD 20850
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Phone: 301.838.9110
Fax: 301.838.9113
November 2009 Monthly Economic Update
The month in brief. Questions about the strength and speed of the recovery hampered stocks by Halloween, although positive economic news continued to surface. The service sector and the manufacturing sector were both growing; consumer spending, however, was lagging. It was a fine month for most hard assets, and a mixed month for global financial markets. Finally, one notable statistic seemed to indicate the recession was done.
No Social Security Income Increase in 2010
Social Security Income (SSI) will remain flat for the first year since 1975. Social Security benefits are keyed to inflation. So what happens when year-over-year inflation becomes negative? No cost-of-living adjustment (COLA) occurs to increase your Social Security income. On October 15, the Social Security Administration announced that there would be no COLA for 2010. (The 2009 SSI COLA was 5.8%, the largest boost since 1992.)