Social Security checks could jump 8.6%, biggest hike since 1981, expert says

Cbsnews ^ | 05/11/2022 | Aimee Picchi

[ChicagoConservative27]

Seniors and other people who rely on Social Security benefits could next year see their biggest cost-of-living adjustment since 1981, with an advocacy group for older Americans forecasting an 8.6% hike.

The typical monthly Social Security check is about $1,658, which means beneficiaries could see an increase of $142.60 per month in early 2023, bringing the average check to about $1,800, according to a new forecast from the Senior Citizens League.

[ChicagoConservative27]

We just sent 40 billion to the piano player in the Ukraine. Where is this money coming from???

[BenLurkin]

On one hand it won’t be enough to offset the higher prices, and on the other hand it will fuel more inflation.

We’ve seen this movie before.

[Jim Noble]

“ Where is this money coming from??? ”

Bureau of Engraving and Printing

[Paladin2]

Next year?

Next month would seem to be more appropriate.

[nascarnation]

Now it’s all digital.
Free electrons for everybody!

[BradyLS]

Thin air and a promise that future Americans will produce enough to cover it.

[McGavin999]

They won’t calculate until Nov and it won’t go into effect until 2023.

[refermech]

Might as well go out with a bang!

[BradyLS]

And we’re in the umpteenth direct-to-video sqeaquel.

[dynachrome]

“Bureau of Engraving and Printing”

It’s mostly electronic now.

[Houserino]

COLA’s keep the old and disabled on the democrat plantation.

[NetAddicted]

Whoa!

[Paladin2]

SS don’t have computers?

There could be a daily update with the current tech level of Big Data.

[neverevergiveup]

Where is this money coming from???

You, via your taxes and the wealth you lose from your savings/investments/purchasing power when they print more money and thus devalue yours.

[Libloather]

Is this anything like the climate change fortune tellers?

[skimbell]

[devane617]

Not enough to offset my home owners insurance, property tax, gas prices, utilities, food and medicine.

I’m quickly getting priced out of my own home. Thanks, joe.

[Repeal The 17th]

“...COLA’s keep the old and disabled on the democrat plantation...”
-
I call bullshit on that.

[Bonemaker]

Then thay’d jack up Medicare deduction so you wind up with less.

[TomGuy]

At the rate inflation is growing, 8.6% may be short by the time it goes into effect, as was the 5.9% SS recipients got for 2022 — minus the big Medicare Part B premium increase.