I saw an article this morning that indicated Social Security is already expecting one of the largest COLAs in history for 2023 — in the range, currently, of 7.9%.
Ot won’t be enough.
Those that depend on Social Security are currently getting screwed. They have to live through increased prices based on their last COLA, which didn't meet real inflation. They have to live with that for all of 2022 as price of goods go up each month. If the next increase is only 7.9% it doesn't make up for the past year and doesn't even come close to the inflation we will have in 2023.
Ya and then they’ll increase medicare. So it wont mean nothing.
And 7.9 isnt going to do much with actual inflation at just about 20%
Read that as ACTUAL inflation.