From CBS:
Seniors and millions of others on Social Security get an annual cost-of-living adjustment (or COLA) that's geared toward aligning their monthly checks with inflation. Next year, that COLA could be 3% — or even lower — based on recent inflationary trends, according to an early estimate from the Senior Citizens League.
The estimate is based on the 12-month average rate for the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a basket of goods and services typically bought by workers, according to Mary Johnson, the Social Security and Medicare policy analyst at the Senior Citizens League. ...
SSA employees should get more than 3%. We have received less than the inflation rate for several years and have fallen behind.
ReplyDeleteOur increases are based on political decisions and we only received 1% for a couple of years.
Should have started a pool on that one!
ReplyDeleteToo funny! Bet you were all for a fee increase.
DeleteIt's too early even to guess.
ReplyDeleteI agree Social Security workers should get paid more. I am on SSDI and 3% gain sounds reasonable as long prices don't start going back up drastically. At least eggs are $2.49 per dozen instead of $5 now. I tell you, natural gas and electric bills need to come down though.. they went up like 35-40% for us.. crazy.
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