Posted on 10/10/2022 10:13:26 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — Seventy-year-old Cassandra Gentry is looking forward to a hefty cost-of-living increase in her Social Security benefits — not for herself but to pay for haircuts for her two grandchildren and put food on the table.
The three live in a Washington apartment building that houses 50 “grandfamilies” — where grandparents take care of children who do not have parents present.
Gentry, who took in her grandkids to keep them in a safe environment, says the boost in benefits will help her make ends meet. “I never thought about contributing to Social Security when I was working, but now that’s what I depend on,” the communications retiree said. “I depend on my Social Security to care for these kids.”
Social Security’s cost of living adjustment, otherwise known as the COLA, for 2023 is expected to be around 9% or even higher, the highest in 40 years, analysts estimate. It will be announced Thursday morning.
It’s not just old people who will gain. About 4 million children receive benefits, and an untold number of others also will be helped because they’re being cared for by Social Security beneficiaries, sometimes their grandparents.
The impact will be immense, especially for low-income retirees like Gentry, who feels the painful sting of high food and energy costs as she cares for a growing 12-year-old granddaughter and 16-year-old grandson. “They eat everything,” she joked.
(Excerpt) Read more at apnews.com ...
Only the government can call a 9% COLA adjustment a “boost” while the inflation rate is 10% (and I’m being generous).
Washington State? DC?...I hate when they do not specify.
Gee FATIMA HUSSEIN of the Fake Associated Press, did you ever take Econ 101 much less understand it??
Social Security is a Ponzi scheme. Fatima thinks that’s a great idea that can go on ad infinitum.
I don’t think so.
Without even looking, I’m sure this is about a black person..........the only “needy” and “deserving” group that’s in the news, 24/7 because white heterosexuals in nuclear families are NEVER featured. Take a look at TV commercials, or “news” stories........no whites (unless there’s a black counterpart).
The grandson is old enuff to get a part time job. Do they not get extra from welfare for the kids?
“I never thought beyond Saturday night.”
That's the PARENTS job.
You know, putting food on the table, providing shelter, love, etc.
My husband knows so many folk who are raising their grandkids, or supporting their adult kids and still have to work.
I am grateful my kids are not knuckleheads.
You know why...drugged up “parents”
It is a drop in the bucket compared to our increase of living. Insurance has more than doubled on our home and projected to be even higher this year—same for car insurance. Property taxes through the roof high. Just those two items alone more than takes the increase.
The way most black women roll is they get knocked up then momma takes care of the kid enabling daughter to get knocked up again.
There is also good money involved with this..
Typical East Coast bias. If it doesn’t designate DC or State, you can safely assume it’s DC. East Coast newsies think the world revolves in a 50 mile circle around them.
Nice increase, until you realize that the Medicare premium is also going up and will take all of that SS increase and then some - so Granny and Grandpa will be getting less in the coming year than the do now.
On one hand the government gives, while the other takes it away and additionally picks your pocket.
The problem with grandparents raising kids who’s parents are still alive is the grandchildren are likely to end up just as screwed up.
Who raised the failed parents in the first place?
Out of Control. Socialism will run us all into poverty.
Hell. Let’s give all kids a couple thousand a month on Social Security. We can spend our way to everyone being a millionaire!!!!
What’s going to happen in January with our VA disability benefits? Will that go up?
p
i agree 100%. Dummies raising dummies raising dummies.
Of course you can do everything right and still have deadbeat adult kids- and i hope in most cases that’s the story.
So the grandkids have a chance.
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