(WOW! $175/MO PAY SSI SSDI +$2400 PROPOSAL!) STIMULUS CHECK UPDATE & BREAKING NEWS 07/26/2022
#stimuluscheckupdate #inflation #recession
https://www.reliefroadmap.com/optin16573626366381657413024368
Social Security recipients could see the largest increase to their checks in decades next year.
Even so, for many retirees, the bump in their annual cost-of-living adjustment won’t be enough to shield them from the pain of sharply rising prices, experts say.
“Unfortunately, the formula used to calculate the adjustment doesn’t reflect the specific expenses that seniors face, especially rising medical costs,” said Nancy Altman, president of Social Security Works. “Moreover, the underlying benefits are inadequate.”
Monthly benefits for retirees could rise 10.5% in 2023, according to a recent analysis by The Senior Citizens League, a nonpartisan senior group. That would amount to a $175.10 increase to the average payment of $1,668.
Meanwhile, the nonprofit Committee for a Responsible Federal Budget reports the benefit bump for seniors could actually be as high as 11.4% if inflation remains at its current clip.
To be sure, these are both just estimates for now. The actual hike will depend on the rate at which prices rise in the coming months.
https://www.cnbc.com/2022/07/21/your-social-security-check-could-jump-175-next-year-is-that-enough-.html
As updates come out, I will be sure to share.
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