Social Security Benefits to Go up by 1.7 Percent

abcnews ^ | Oct 22, 2014 | STEPHEN OHLEMACHER

[Brother Cracker]

Millions of older Americans who rely on federal benefits will get a 1.7 percent increase in their monthly payments next year, the government announced Wednesday.

It's the third year in a row the increase will be less than 2 percent.

The annual cost-of-living adjustment, or COLA, affects payments to more than 70 million Social Security recipients, disabled veterans and federal retirees.

[roadcat]

For years, these 2% -3% inflation figures have been a fraud.

Yup. In recent years my favorite pizza has gone up from $20 to over $30 now. My Social Security cola won't cover my increased food costs.

[Grams A]

WT - Some of your points are worthy of consideration. But we have been never given an option other than having deductions from our earnings. Should the entire system be changed going forward? Probably. To say that seniors like me who have contributed a whole lot of dollars are not justified in receiving our money back is just way over the top!