Posted on 07/15/2021 8:16:40 AM PDT by DFG
Social Security payments could rise 6.1 percent next year due to soaring inflation, which would be the largest increase since 1983, according to a new estimate.
The Senior Citizens League, a non-partisan advocacy group, released the new estimate on Wednesday, responding to the latest inflation data showing prices are up 5.4 percent in the 12 months through June.
For the 69 million people currently receiving benefits, however, the next cost-of-living increase will not come until January's payment, leaving many struggling on a fixed income as the price of goods surges.
The most recent bump in benefits, calculated based on last year's price data, was a mere 1.3 percent.
(Excerpt) Read more at dailymail.co.uk ...
In case any of you may not be aware of this the previous Administrations have deliberately under reported inflation for many, many years in order to keep SS payments low and save the government money in that program so they could hand out extra cash to minorities and other people who live their lives on the dole.
weee 6.1% of 250 smackaroos. I’m getting me a swimming pool with that extra $15 bucks
UK newspaper scoops all major American media on the story about America, again. We have the absolute worst media since Pravda.
Starting rising around Jan. 20th. The protesters were there too early.
My fearless prediction: The government will massage the data to keep the COLA at 2% or less. Maybe they’ll remove “transitory” inflation from the equation.
And what is “transitory” inflation? It’s anything they want it to be.
Your SS is only $250? I am too young to receive it at this point, but they send a yearly letter out saying how much I am eligible to receive. It’s a heck of a lot more than that. I’m thinking of finding a psychiatrist to declare me mentally unfit to work and put me on permanent disability.
Great. They’re going to give 70M people more money. That should help tamp down inflation.
You can bet the increase in Part B premiums will be greater than the cola. The scumbag democrats will get it all back somehow.
Windfall Act. Can’t collect a pension and full social security. The government makes sure old people go without until they die unless you’re lucky.
I assume the Medicare Co-pay Premium (as well as the Deductible) that is taken out of the SS Payments will rise substantially to keep pace with Xiden’s Inflationary Economic Policies.
No Virginia, Medicare isn’t free.
China must be working overtime printing all that Monopoly Money.
Ditto! I work part-time in restaurant with lots of young folks. They are all shocked when I tell them Medicare is not free.
And the local counties will raise property taxes because of this inflation thereby nullifying whatever increase seniors get.
Food & gasoline are not part of the equation.
Don’t buy that pool yet! They usually raise Medicare prices so that you wind up with $2.
“They are all shocked when I tell them Medicare is not free.”
It’s free to anyone that has never worked a day in their life and spits out a litter of pups every year.
They live like Kings and Queens on welfare and drug money while the poor saps that slave to pay for it can never afford to retire.
“Food & gasoline are not part of the equation.”
You are correct as far as the regular monthly inflation numbers. I believe the info used to determine SS increases is different in some ways although I don’t know if it does include food and gasoline.
Medicare isn’t Medicaid. I was on welfare for a short time and in my area Medicaid doctors were the ones no one would actually pay to see, substandard care to the nth degree. I remember an article during the Obamacare push that stated Medicaid doctors were dangerous.
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