Social Security recipients could see biggest cost-of-living increase in 40 years

[mystery-ak]

Published 3 hours ago
Social Security recipients could see biggest cost-of-living increase in 40 years
Social Security benefits could jump by 8.6%, highest since 1981

By Megan Henney FOXBusiness

Social Security recipients are poised to receive the biggest cost-of-living raise in over four decades as inflation rapidly erodes the buying power of retired Americans.

The Senior Citizens League, a nonpartisan group that focuses on issues relating to older Americans, estimated on Wednesday the adjustment could be as high as 8.6% in 2023, based on April inflation data, which showed that consumer prices soared 8.3% from the previous year, close to a 40-year high.

INFLATION SOARS 8.3% IN APRIL, HOVERING NEAR 40-YEAR HIGH

The annual Social Security change is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W, which jumped 9.4% over the past year.

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https://www.foxbusiness.com/money/social-security-recipients-could-see-biggest-cost-of-living-raise-since-1981

[Kamaji]

Pushing the program that much faster into insolvency.

[catfish1957]

Pushing the program that much faster into insolvency.

Until fedzilla pumps in a few Trill.  No harm in that.../s   

[Kamaji]

Until fedzilla pumps in a few Trill.  No harm in that.../s   

[Cyber Liberty]

Pushing the program that much faster into insolvency.

So when do we push Welfare into insolvency?  Why do we only care about SS going insolvent while ignoring the blank check that is Welfare?

[Kamaji]

So when do we push Welfare into insolvency?  Why do we only care about SS going insolvent while ignoring the blank check that is Welfare?

Because that's part of the political quackery that passes as leadership in the U.S.

The fact of the matter is, social security will not go insolvent in any real sense, it will simply morph into another general welfare program on the general ledger instead of a separate program with an ostensibly dedicated funding stream.

[Bigun]

Social Security is the government run version of what Bernie Madoff got sent to prison for.

It is a Poni scheme and always has been.

[sneakypete]

Speaking as someone who is retired and living on a fixed income,I can honestly tell you that if I hadn't sold my new truck last year and my house wasn't paid for,that I would be screwed.

For example,it costs me over 100 bucks a week to go to the grocery store,and I do NOT eat fancy food. Mostly canned food and hamburger. Haven't even eaten at a Hardees or similar place in over a year. I did go to the local Hardees and get a cup of coffee as an excuse to get out of the house yesterday,and the coffee with the veterans discount was 85 cents. It used to be around 60 cents. Adn the veterans discount coffee always comes in their smallest cups. The refills are free,though. That could be because a few of the women that work there are locals who have known me for years,but I can't state that as true or false.

[berdie]

Maybe we'll able to afford the sure to be increase in Medicare, Part D, meds and supplemental coverage.

[GtHawk]

Maybe we'll able to afford the sure to be increase in Medicare, Part D, meds and supplemental coverage.

You can get the farm that if the COL is 8.6% the Medicare increase will be at least 4.6% leaving 4% and the inflation rate will still leave seniors in the hole. Thank God we can rest easy as far as the Illegals...and Ukrainians, those people that are supposed to represent their voting constituents, will make damn sure that they will be well provided for at the taxpayers expense.

Damn, almost forgot, on top of everything else the democrats and RINOS gift the invaders, how many will be given SS without ever having contributed one stinking penny?

[IsailedawayfromFR]

Pushing the program that much faster into insolvency.

It's already insolvent, of course.  It can only operate with inflow from other tax revenue.


Here's a chart from the last decade


Why would your believe otherwise?

[sneakypete]

It's already insolvent, of course.  It can only operate with inflow from other tax revenue.


Here's a chart from the last decade


Why would your believe otherwise?

@IsailedawayfromFR


But.....,but....,.....but,are you trying to tell me all the illegal aliens the left is allowing to pour through our borders won't be working and paying taxes and SS money into the system?????

Surely you jest! WHO would be THAT crazy?

[GtHawk]

@IsailedawayfromFR


But.....,but....,.....but,are you trying to tell me all the illegal aliens the left is allowing to pour through our borders won't be working and paying taxes and SS money into the system?????

Surely you jest! WHO would be THAT crazy?

https://www.youtube.com/watch?v=KM2K7sV-K74

Sorry