Posted on 10/27/2022 9:39:52 AM PDT by SeekAndFind
Social Security beneficiaries are about to see their largest increase in benefits in four decades.
Starting in January 2023, recipients of Social Security benefits and Supplemental Security Income (SSI) payments will see their benefits go up by 8.7 percent, according to the Social Security Administration.
Approximately 70 million Americans will benefit from the bump, the agency said, with an average increase of more than $140 per month expected.
The increase will follow the agency’s annual cost-of-living adjustment (COLA), which is required by federal law and based on the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Benefits that Social Security beneficiaries receive will increase in January 2023, while increased SSI payments will start on Friday, Dec. 30, 2022.
(Excerpt) Read more at dailyvoice.com ...
It’s no real increase, just less decrease.
Bullsh”t article makes show like Biden is giving seniors a bonus when it’s not even keeping track with the old way they used to gauge inflation.
“It’s no real increase, just less decrease.”
Bingo! Inflation out of control, life savings decimated and they throw us a no-meat bone on an SS increase that’s WAY below inflation.
And then in 2024 Medicare will triple their rates. SMH
buying votes. THe American Caligula raiding the treasury.
“Here’s When Social Security Recipients Will See Largest Bump In Benefits In 40 Years”
40 years will be too late for me ...
“...they throw us a no-meat bone on an SS increase that’s WAY below inflation.”
Oh really? What is the real current inflation rate and how did you arrive at the number?
doesn’t make up for the obama years...when we received nothing...or the 5.9 for last year when inflation was 8%...or this year when inflation is 12%. they play games with cola...makes us beggars for the money we put into the system....for years....
Another hidden penalty to inflation: this increase means a speedier arrival to the bankruptcy of the entire SS system.
No this was what would have happened with a COLA that would normally happen with inflation like we are having.
There was a story here recently about the owners of a retirement community who, when it was revealed that SS recipients were going to receive an 8.7% increase, immediately raised the rent 8.7%. Easy come, easy go, I guess.
My real-world observation is that inflation is running 20% to 30% per annum. What do you observe? Many products have shot up 50% and more the past year.
A 9% increase is WAY WAY below real world inflation.
Meh! The demokkkommie ads will have us believe that if the gopE wins you can forget about SS and Medicare since they want to reduce them to next to nothing.
You are just making up numbers, and 20-30% is ridiculous.
I’m confident the govt number is close enough for me to make any investing decisions needed.
“Oh really? What is the real current inflation rate and how did you arrive at the number?”
You believe the gibmit, eh? Bad you, silly you.
“buying votes. THe American Caligula raiding the treasury.”
No. Legally mandated adjustment.
It’s called a ‘cost of living increase’ meaning it attempts to keep you even with increased prices…not a raise…the number is higher but it’s buying power is lower…
70 million x $140/mo x 12 = $117.6 BILLION per year
We are borrowing this money, to pay only the benefit INCREASE.
People love this. This is why interest rate hikes will soon end, and they will allow inflation to get much, much worse.
Then we lose reserve currency status, trillions of dollars come back to the US, and inflation gets even worse.
THEN, Programmable CDBC and game over.
It’s not an increase. This is one way that they use inflation to their benefit. Because dollars have lost their value, you need more of them. They give you more and try to convince you that you are getting a benefit increase. And the media helps spread the lie.
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