• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Social Security recipients are set to receive a major increase in monthly benefits

JacksinPA

JacksinPA

Supporting Member
DP Veteran
Monthly Donator
Joined
Dec 3, 2017
Messages
26,290
Reaction score
16,771
Gender
Male
Political Leaning
Progressive
www.nbcnews.com

Social Security recipients to receive 8.7% monthly benefit increase

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has been at 40-year highs for months.
www.nbcnews.com www.nbcnews.com

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has seen 40-year highs for months.

Social Security recipients struggling with higher inflation are likely to get a major boost in their monthly benefits starting next year.

Thanks to the high inflation reading for July, beneficiaries could receive as much as $159 extra per month in 2023, according to a new estimate from the Senior Citizens League, a nonprofit advocacy group.
==========================================================
Great news. Now I can afford to refill my pot supply. This hike is $1,900/year.
 
JacksinPA said:
www.nbcnews.com

Social Security recipients to receive 8.7% monthly benefit increase

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has been at 40-year highs for months.
www.nbcnews.com www.nbcnews.com

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has seen 40-year highs for months.

Social Security recipients struggling with higher inflation are likely to get a major boost in their monthly benefits starting next year.

Thanks to the high inflation reading for July, beneficiaries could receive as much as $159 extra per month in 2023, according to a new estimate from the Senior Citizens League, a nonprofit advocacy group.
==========================================================
Great news. Now I can afford to refill my pot supply. This hike is $1,900/year.
Click to expand...

Sounds good, but let's wait and see if its offset by a part b increase.
 
JacksinPA said:
www.nbcnews.com

Social Security recipients to receive 8.7% monthly benefit increase

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has been at 40-year highs for months.
www.nbcnews.com www.nbcnews.com

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has seen 40-year highs for months.
Click to expand...
I read something to the effect that SS increases are decided by 3rd quarter inflation readings.
The 3rd quarter runs from July through September, so we're about halfway through and inflation appears to be cooling.
As I recall, that particular article did say that a 7% increase was assured.
We'll see what happens.
 
radioman said:
I read something to the effect that SS increases are decided by 3rd quarter inflation readings.
The 3rd quarter runs from July through September, so we're about halfway through and inflation appears to be cooling.
As I recall, that particular article did say that a 7% increase was assured.
We'll see what happens.
Click to expand...
The repugs want to eliminate SS, Medicare & any other programs they label entitlements. That's why I vote Dem.
 
JacksinPA said:
www.nbcnews.com

Social Security recipients to receive 8.7% monthly benefit increase

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has been at 40-year highs for months.
www.nbcnews.com www.nbcnews.com

The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has seen 40-year highs for months.

Social Security recipients struggling with higher inflation are likely to get a major boost in their monthly benefits starting next year.

Thanks to the high inflation reading for July, beneficiaries could receive as much as $159 extra per month in 2023, according to a new estimate from the Senior Citizens League, a nonprofit advocacy group.
==========================================================
Great news. Now I can afford to refill my pot supply. This hike is $1,900/year.
Click to expand...


Almost makes up for about 65% OF THE INFLATION seniors are paying out.

www.marketwatch.com

The average household is spending an extra $250 a month, or $3,000 per year, due to high inflation — but middle-aged Americans are paying even more

A new report examines the impact of inflation on the average household.
www.marketwatch.com www.marketwatch.com
 
bongsaway said:
How will you feel if the gop gets into the position to kill medicare and social security like they want? Will that be ok with you?
Click to expand...
The Supremes got abortion. They are so extreme that SS & Medicare will be easy for the same reason: they are not spelled out in the Constitution.
 
RetiredUSN said:
Almost makes up for about 65% OF THE INFLATION seniors are paying out.

www.marketwatch.com

The average household is spending an extra $250 a month, or $3,000 per year, due to high inflation — but middle-aged Americans are paying even more

A new report examines the impact of inflation on the average household.
www.marketwatch.com www.marketwatch.com
Click to expand...

This is from your link "Comparatively, Americans who are 65 years and older are only spending an additional $194 per month." Pays for a little more than 65%, I think. And, inflation will slow but we'll still keep getting the extra
 
Demon said:
This is from your link "Comparatively, Americans who are 65 years and older are only spending an additional $194 per month." Pays for a little more than 65%, I think. And, inflation will slow but we'll still keep getting the extra
Click to expand...

Which is still behind the inflation rate that your part y caused.
 
Demon said:
Sounds good, but let's wait and see if its offset by a part b increase.
Click to expand...

Last year was a big raise too but after the exorbitant increase in the Medicare deduction it was negligible.
 
Demon said:
This is from your link "Comparatively, Americans who are 65 years and older are only spending an additional $194 per month." Pays for a little more than 65%, I think. And, inflation will slow but we'll still keep getting the extra
Click to expand...

$194 a month? My oil bill alone is increased more than that.
 
radioman said:
I read something to the effect that SS increases are decided by 3rd quarter inflation readings.
The 3rd quarter runs from July through September, so we're about halfway through and inflation appears to be cooling.
As I recall, that particular article did say that a 7% increase was assured.
We'll see what happens.
Click to expand...
March, April, May, June ,July have all been well over 8%. There is no way inflation suddenly drops below 8% in August and September. The bump will be +8% .
 
The draught and excessive heat in the west has caused cattle ranchers to take their herds in to slaughter by the hundreds of thousands. Beef prices have tumbled because of the glut in the market. Go out and buy steaks now. Enjoy them because in 6 months you will not be able to buy steak without a second mortgage.
 
it's just me said:
I'm going to call "bullshit" on that.
Click to expand...
The best case scenario is some like Rick Scott want to "sunset" them and allegedly make them better. Beware beware! When something gets "sunsetted" if the votes aren't there you are in big danger. Some like Ron Johnson want to eliminate entitlement programs as "mandatory spending." Again danger Will Robinson!

Senator Rick Scott wants to "sunset" Social Security and Medicare

By now, many listeners have probably seen Senator Rick Scott (R. Florida) on television trying to deny what is in his infamous 11-point plan to “rescue America.” One example that he tries to deny is in the section on government. Buried on page 19 of the 31-page pdf of the plan is a very...
www.wamc.org www.wamc.org

 
.
 
Last edited:
EnigmaO01 said:
The best case scenario is some like Rick Scott want to "sunset" them and allegedly make them better. Beware beware! When something gets "sunsetted" if the votes aren't there you are in big danger. Some like Ron Johnson want to eliminate entitlement programs as "mandatory spending." Again danger Will Robinson!

Senator Rick Scott wants to "sunset" Social Security and Medicare

By now, many listeners have probably seen Senator Rick Scott (R. Florida) on television trying to deny what is in his infamous 11-point plan to “rescue America.” One example that he tries to deny is in the section on government. Buried on page 19 of the 31-page pdf of the plan is a very...
www.wamc.org www.wamc.org

Click to expand...

Seems like a real long shot. Im more worried about Biden selling us out to China.
 
You must log in or register to reply here.
Back
Top Bottom