Social Security COLA Increase Slammed as New Estimate Released

[libertybele]

Well, it'll buy us 3/4 of a tank of gas for our truck for the month...provided gas prices don't continue to rise.   

Social Security COLA Increase Slammed as New Estimate Released

Anew cost of living adjustment (COLA) prediction for Social Security has many seniors scratching their heads at how they'll stretch their benefits amid inflation.

The Senior Citizens League (TSCL) just predicted the COLA for 2025, saying beneficiaries can expect a 2.66 percent bump in benefits. Earlier in the year, the estimate was set at 2.6 and 2.4 percent.

If a 2.66 percent boost is implemented, it would likely increase monthly payments by around $50 for most recipients.

While the jump in monthly benefits would be better than the earlier predictions, many seniors were expecting a higher boost to deal with the impacts of inflation.

The Social Security Administration adjusts Social Security payment amounts every year based on the consumer price index, but not everyone feels the change would be enough to get by.

"While COLA payments will increase to offset the effects of inflation, the problem many have with the potential percentage jump is it won't get far enough to meet most of the financial needs of seniors," Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek. "Obviously daily expenses for this age group continue to rise, but the uptick in healthcare costs are putting an additional strain on them, and COLA payments may not be enough to match that uptick."..............

https://www.msn.com/en-us/money/retirement/social-security-cola-increase-slammed-as-new-estimate-released/ar-BB1mzFRq?rc=1&ocid=winp1taskbar&cvid=316e61a439df4be390eadd839f071d6e&ei=14

[GtHawk]

If a 2.66 percent boost is implemented, it would likely increase monthly payments by around $50 for most recipients.

Is that whopping $50 before or after the Medicare payment increase? I can't help wondering how much of a food/housing/medical/phone/ etc. benefit increase I will be funding for illegal aliens(or better known as future democrat voters)?

There has been a long running meme about seniors having to eat cat/dog food because of high costs...well cat food has more than doubled and dog food has tripled so not only won't seniors be eating it, they will be hard pressed to feed the pets they sorely need. Thank goodness Joe and the democrats...with a big assist from republicans are such good financial stewards for the American people illegal aliens. How long until the democrats get back on the euthanasia for the old and infirm train? They must be very envious of Trudy and Canada.

[DCPatriot]

@GtHawk   

The cost of packaging, transport...cost of insurance are of course passed on to the consumer.

It's not corporate greed in all instances. 

[DefiantMassRINO]

There's always Restaurant dumpster diving.  The ants, maggots, and rats are additional sources of protein.

[GtHawk]

There's always Restaurant dumpster diving.  The ants, maggots, and rats are additional sources of protein.

But there is so much more competition since the BBE(Bitchin Biden Economy) has forced so many restaurants out of business If only we had R.O.U.S.'s we could have a neighborhood barbecue...at least in Blue run cities there are enough of the common type 
Sadly I suppose we can look forward to a democrat future...

https://www.youtube.com/watch?v=-Yc9zDKpHpQ