Between real inflation and the expected spike in Medicare Part B premiums and Part D deductibles, seniors will definitely be going backwards.
Just wait until their homeowners insurance gets renewed now, watch that little bit get swallowed like a sparrow fart in a tornado.
And the practical relevance to Social Security is…
Only down about 17% now.
such a fake system
“giving” cost of living raises at about one-fifth or one-sixth the actual increase in cost of living
this is, however, not limited to USA
it happened in the Soviet Union, too, as their retirees, many of them, wound up having to beg in the streets
same or similar lies and fake statistics
RIPOFF!
That won’t even cover your supplemental insurance increase
What a joke. They just want to get rid of us all.
FWIW, Although I would rather have my own money invested, SS as an annuity is a very good deal compared to what one can purchase in the private market. You cannot buy an annuity that has a COLA. Today’s annuities take longer expected life’s in consideration than SS.
Will illegals get the same COLA?
bfl
My copay for Afib pill used to be $50 a month now its up to $71 a month for 2024. My federal health insurance plan serves as the prescription portion of Medicare in retirement for federal and postal retirees. They forced me onto a cheaper form of inhaler this year, the new puffer works well and copay now is reasonable.
Just, GREAT! That extra $40 from ‘Uncle Sugar’ each month will put me into the highest tax bracket - the one with all the other Millionaires and Billionaires!
I’ll have to go back to work just to pay my ‘Fair Share.’
*SMIRK*
Social Security and Supplemental Security Income (SSI) benefits for more than 72.5 million Americans will increase 2.5 percent in 2025.
2.7-3.2% ? That’s more like a DIET COLA. 😖🤦🤬
Final # is in (a couple of days ago), and its a 2.5% COLA and the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $176,100 from $168,600.
https://blog.ssa.gov/social-security-announces-2-5-percent-benefit-increase-for-2025/
The inflation rate was TEN TIMES GREATER than that!!!
Anyone bother talking about how they changed the calc to determine cola? Anyone?