Great Review, No Raise, What's Up?

Dear Experts, I had a review last week and it was a great one. I was told that I had an outstanding year, but that there were no raises being given due to the economy and so my hourly rate was staying the same. I was fine with it until I heard a co-worker got a raise and a promotion! What happened to 'no raises' mantra I got? Should I say something? Granted, the employee I'm talking about is a salaried worker who is higher up than me, but it doesn't seem right. Our Twitter Advice Project (T.A.P.) is no longer an active campaign. To find an answer to the above question, please use the "Search" box in the right-hand column of this website.