General Category > Economy/Business

Your Social Security COLA increase could be bigger than expected next year

(1/8) > >>

mystery-ak:
 Published April 16, 2024 7:00am EDT
Your Social Security COLA increase could be bigger than expected next year
Social Security COLA estimate rises as inflation heats up again

By Megan Henney FOXBusiness


Social Security recipients are on track to receive a cost-of-living adjustment (COLA) next year that is bigger than previously expected after inflation accelerated for the third month in a row.

The Senior Citizens League, a nonpartisan group that focuses on issues relating to older Americans, estimated the adjustment could be about 3%, based on March inflation data, which showed the consumer price index climbed 0.4% from the previous month and is up 3.5% from the same time last year.

Both figures are higher than expected, underscoring the challenge of taming high inflation. 

The annual Social Security change is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W, from July, August and September. The CPI-W also posted a 3.5% increase in March.

more
https://www.foxbusiness.com/personal-finance/your-social-security-cola-increase-could-be-bigger-expected-next-year

rustynail:
'Next year'?  We have to get there first.

LMAO:
Why not

If we’re going to go down the path of fiscal ruin we might as well go all out

AllThatJazzZ:
The COLA has been on the high side since Biden has been in office because the Cost Of Living has soared. In spite of those increases, the COLA never keeps up with the damage Bidenflation has done to our finances.

 9999hair out0000 9999hair out0000 9999hair out0000 9999hair out0000 9999hair out0000 9999hair out0000

Wingnut:
Should be 10%.  We got screwed on the current COLA that started in Jan.  F'ing Bidenomics is Squints McBiden's way of killing the middle class. 

Navigation

[0] Message Index

[#] Next page