The Cost Of Living Adjustment (COLA) for Social Security benefits effective next year is 5.9%, slightly lower than had been anticipated, but still the highest in many years.
7 comments:
Anonymous
said...
Thank you President Biden and the hardworking employees of Social Security!
it has nothing to do with President Biden or the employees. Well actually, maybe it does have something to do with President Biden's inflationary policies.
It sounds nice, but in reality, it will be like the other COLA's, it still won't be enough to keep up. That being said, temporarily, it will be a great relief to some. Lets just hope this inflation levels off. COLA's only come once a year.
I love the news accounts that claim that this is terrible news for seniors, that inflation and medicare will eat it all up. Dumb folks don't realize that inflation and Medicare already ate it up in prior years, and that folks have spent a year with higher prices and last years "pay". But painting it as a bad thing - something seen in Yahoo news, Forces and MSNBC pundits. Ignores the basic fact that even if the money "is eaten up" by inflation, at least there was more money in the pot - else they'd be in an even worse situation.
7 comments:
Thank you President Biden and the hardworking employees of Social Security!
it has nothing to do with President Biden or the employees. Well actually, maybe it does have something to do with President Biden's inflationary policies.
It sounds nice, but in reality, it will be like the other COLA's, it still won't be enough to keep up. That being said, temporarily, it will be a great relief to some. Lets just hope this inflation levels off. COLA's only come once a year.
@12:49 umm pandemic.
I love the news accounts that claim that this is terrible news for seniors, that inflation and medicare will eat it all up. Dumb folks don't realize that inflation and Medicare already ate it up in prior years, and that folks have spent a year with higher prices and last years "pay". But painting it as a bad thing - something seen in Yahoo news, Forces and MSNBC pundits. Ignores the basic fact that even if the money "is eaten up" by inflation, at least there was more money in the pot - else they'd be in an even worse situation.
About double what the average worker might see this year.
Cue the chorus for a rousing round of "Reps havent had a cost of living allowance in years"
5.9%...raise your hand if you work and got a raise like this recently?
Remind me again who are the people that live on a "fixed" income.
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