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Veterans to see Largest COLA Increase Since 1982
Posted at 01:53 PM on Thursday, October 16, 2008 by post10041
WASHINGTON, D.C. – Effective December 1, 2008, veterans’ disability compensation, among other benefits, will be increased by 5.8 percent, to respond to the increasingly high cost-of-living in the United States. This increase was secured by an Act of Congress, authored by U.S. Senator Daniel K. Akaka (D-HI), Chairman of the Veterans’ Affairs Committee. The exact percentage increase of 5.8 percent was determined by the Bureau of Labor Statistics, corresponding with the increase in the Consumer Price Index (CPI).The Social Security Administration reports that this year’s CPI increase is the largest since 1982. Last year’s increase was 2.3 percent.
(via Senate Veterans Affairs Committee Press Release)
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