The Social Security Administration announced an annual cost of living adjustment of 8.7% amid a rising inflation rate. The adjustment represents the largest one-time increase since 1981, and the largest experienced by beneficiaries alive today. Editor in Chief of TheBalance.com Kristin Myers joins News NOW to help us understand what this number means for people on Social Security.
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#SocialSecurity #CostofLiving #Inflation
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A lot of states are getting a fourth stimulus check we're not and they've been cheating people out of unemployment checks so until they settle that no stimulus for us I'm so ready for November 8th to vote for a new president I've never voted I'm voting this time he's got to go
Wrong! Not everyone is going to get $140 increase. That's the average. Some people will get much less and some people will get more depending on what your Social Security payment is. Example: $1600 x 8.7% = $139. If your Social Security is $1600 a month then you would get about $140 increase.
Stop giving our money to other country. and people coming to our country that have never
worked over here. Hurting the American people that's been working all our life here. I'm not
a President or in congress to know what is hurting our country.
If people are still paying taxes in how is the program running out of money?
Not..much….with..a. non..president..paying..him..and..control..is .family..and..the..google..media..wake..up. all
When we get a raise this year on a check social security
= Bs. Stop spending America's money on immigration and spend it on SSA!!
probably none. I've been very disabled for a decade and I've been poor for a decade. just got paid but I'm still broke. 33 barely have a place to live. never owned a car, can't afford lawyers. Disabled people are the number 1 people treated like trash 😦🤡
That was the biggest bunch crap I have ever heard….a team of con artist… not to fool SSI recipients. NO, voters that are not on ssi… that was such a hustle with one leading question after another. Seriously, you are very very uneducated or deliberately lying… my gosh… btw I can calculate 8% of any number in my head. This is not going to alter our lives one bit… well some will wonder why we dont do better managing our lives. Not realizing if someone is receiving 100% disability May only receive $7000 per year… Poverty level is approximately $14,000. Why so little didnt pay much into the system? What happens if one becomes disabled at a young age due to no fault of their own? Isnt that what insurance is? Why not executive order that congress repay the social security funds with interest??? The same they would come after a citizen behind on paying taxes… bunch of criminals and these guys are covering for them. Prove me wrong. Dont say Im wrong or crazy prove it.
What about ssi
The GOP wants to dismantle Social Security. Don’t take my word for it, ask you Republican senator or congressman where he/she stands on SS. If the first thing out of his or her mouth has nothing to do with Social Security and you’re living on SS, you’re screwed.
Don't Vote Rep if you want to keep SS They want to Axe it and keep our money for there Stupid projects !!
Just throw more money at it.
The REAL question should be ~ how much will Medicare premiums go up??????
They deduct Medicare premiums FROM your Social Security check, so you can count on them raising premiums…..which means that cost of living increase won’t amount to a hill of beans!!
No problem with SS funds IF they just LIFT the Cap on Social Security tax.
People on lower benefits of $1,000 mth ONLY gets $90 more! higher income people always get more than people at bottom who NEED MORE.
DEMOCRATS/Liz Warren Plan to EXPAND $RAISE SOC SECURITY but REPUBS keep Voting it down in Congress! VOTE DEM next election if you want a Real Increase In Social security income!
DEMOCRATS/Liz Warren Plan to EXPAND $RAISE SOC SECURITY but REPUBS keep Voting it down in Congress! VOTE DEM next election if you want a Real Increase In Social security income!
It's very deceptive to say most will get $140/month extra; many get less than $1,000/month which gives them (who needs it most) less than $100/mo increase 8.7% raise for 23% inflation rise!😡
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Food prices are at 33% there no way 8.7% going to be enough to even cover Social security benefits and SSI recipients and SSDI recipients and VA and RRB definitely are rising rents, mortgage and Food prices Skyrocket in 2023 even higher than 2022
Well, if it is 2.2% increase + a reduction in my Medicare B payment than I should be getting about $217.50 raise. It was a good idea to not claim until I was 67.
This is great news esp for seniors who are wholly dependent on #SocialSecurity for their entire money in retirement. In fact 50% of seniors (check the Federal Reserve) retire before age 62 so Social Security has to start at age 50 by financial need. Scrapping the cap on who pays into it and scrapping SSI entirely will more than pay for that and this is an essential program to keep seniors housed and fed after decades of work mostly in the low-wage workforce.
Thanks to #FrancesPerkins the former Labor Secretary. The money to pay for Social Security comes from the general fund, so don't worry about it socalled running out of money (see Robert Reich).
That's cool
Does anyone know how they are planning on factoring this COLA into medicaid qualifications? This increase could potentially boost people out of medicaid benefits.
$140 dollars is not help that’s only a thousand income for us rent more then what they give us it’s sad
Republicans party been saying for years they want to cut social security and Medicare when they take control of the Senate and the house we might as well say goodbye social security and Medicare. They keep saying social security and Medicare the debt problem. We was Afghanistan for 20 years spent $300 million dollars a day and now they worry about the debt. Like Ron Johnson Rich Scott and the rest of the Republican party when she take your social security Medicare away from you.?
I'm no longer waiting for the EDIL GRANT LOAN because I earn $ 16,036 every 10 days recently.
Will run out of funds in 2035, so about ten years ! What? does this woman know math?
This will be stolen from us as well.
We could have all had more than enough money. But both parties stole from OUR fund that WE paid into.
Are we going to pretend that Kristin Myers hairline isn't doing something weird?
1q question with all the money that the taxpayers put into their social security retirement fund but it sets there in that plan in the government's hands right? Okay with that said that money that's sitting there every day and so on is making interest in that account their account okay so where's that interest at their money is making why isn't it put back in their account for retirement if we had a savings account personally we would have to pay taxes on that interest that it makes every month or every 6 months what do you think about that people just putting it out there why isn't the government paying interest on the money that they're got for us holding on to you for our social security retirement why isn't it making interest on it and then it wouldn't be running out I think it's a bunch of bullpucky God bless and have a good day
People pay into social security, so it will never run out~~~~
Crying right now because I'm so happy to hear this. Thank you.
They wouldn't run out of money In the coffers if they paid back what both parties have barrowed!
It's not anywhere near covering the difference in rent increases!
It’s supposed to run out by 2030