Social Security beneficiaries might be in for the highest cost of living adjustment (COLA) in nearly four decades, according to new projections.
The latest estimate from nonpartisan senior advocacy group the Senior Citizens League puts the 2022 COLA, which will be announced in October, around 6.2%.
"The estimate is significant because the COLA is based on the average of the July, August and September CPI data," Mary Johnson, a Social Security policy analyst for The Senior Citizens League, said in a statement. "With one-third of the data needed to calculate the COLA already in, it increasingly appears that the COLA for 2022 will be the highest paid since 1983 when it was 7.4%."
Cost of living adjustments, which began in 1975, are implemented in order to counteract the effects of inflation.
Poster Comment:
Shadow Stats as CPI AT TWICE THAT.
#1: Esso To: Horse, 4um (#0)
As many oldsters that the dems killed off with their death shots and nursing home shenanigans, they could quadruple SS payments and still be paying out less. Next step: Must be vaxxed to receive SS. That'll get 'em lining up.
Interest rates were high as shit back then after Carter fucked things up so bad. You could get TIGRs that paid 16%, home mortgage interest was about 20% IIRC. The houses being built back then were a helluva lot different than the ones of late. Most new garages are fancier now than the houses back then.
Esso posted on 2021-08-12 18:20:03 Reply Private Reply
#2: Lod To: Esso, Horse, 4um (#1)
Lod posted on 2021-08-12 22:08:44 Reply Private Reply
#3: BTP Holdings To: Esso (#1)
Housing in California so so scarce and expensive that some people are renovating their garages and renting them out as efficiency units. From what I have heard the rent is around $350/mo and maybe more.
Bus drivers who make $35,000/yr cannot afford to rent an apartment and live in their vans. I saw one case in particular about that. ;)
BTP Holdings posted on 2021-08-13 07:34:19 Reply Private Reply