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In 2023, Social Security benefits got an 8.7% COLA, the largest cost-of-living adjustment since 1981. According to the United States Social Security Administration (SSA), "COLAs are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)." So, when inflation starts to cool, that means a lower cost-of-living adjustment for Social Security recipients. Currently, inflation is at its lowest level in two years, dropping to a 12-month rate of 3.0% in June. This is down from 4.0% in May and 4.9% in April. David Payne, staff economist from the Kiplinger Letter, forecasts a 3% Social...

“Ponzi Scheme” is a term that was coined about 100 years ago. It was named after an Italian immigrant, Charles Ponzi, who realized he could get investors by promising large returns for undefined, high-yield investments. His endeavor needed to make just enough money to keep attracting new investors, whose money, after Ponzi’s cut, was used to pay some of the earlier investors. In our modern day, Bernie Madoff’s Ponzi scheme resulted in losses in the billions of dollars when the stock market tanked during the Great Recession. Selling the Deal Americans are just beginning to see the tip of the...

. You can see where this is going. The FOX News $$$ recruits every person representing the Republican View on TV / Radio to say it’s not the Trillions to failing, unaccountable Cities - but the people getting 25k a year for the 45 years they paid into it. This Conversation, which will be the RNC platform, neglects to say that Congress allowed and incentivized Corps (Donors) to do away with Pensions and Retiree Healthcare and change their systems to assume (adequate) Social Security Income at 62 which moved to 65 in exchange for donations from those Corporations. From Hannity...

Sen. John Thune of South Dakota, the number two Republican in the U.S. Senate, said on Tuesday that the GOP plans to use the debt ceiling as leverage to make cuts to Social Security and other social safety net programs. "There's a set of solutions there that we really need to take on if we're going to get serious about making these programs sustainable and getting this debt bomb at a manageable level before it's too late," Thune said in an interview with Bloomberg News, adding that raising the retirement age is one of the solutions Republicans want to explore.

WASHINGTON (AP) — Seventy-year-old Cassandra Gentry is looking forward to a hefty cost-of-living increase in her Social Security benefits — not for herself but to pay for haircuts for her two grandchildren and put food on the table. The three live in a Washington apartment building that houses 50 “grandfamilies” — where grandparents take care of children who do not have parents present. Gentry, who took in her grandkids to keep them in a safe environment, says the boost in benefits will help her make ends meet. “I never thought about contributing to Social Security when I was working, but...

Inflation has been taking its toll on retirees, especially those who rely solely on Social Security. But have no fear, Senator Bernie Sanders (I-Vt.) and seven Democratic cosponsors recently introduced S. 4365, the Social Security Expansion Act, a bill to enhance Social Security benefits and ensure the long-term solvency of the Social Security program. If this bill passes, retirees 62 and over would start to receive an additional $200 a month in benefits beginning in January 2023. Most retirees rely heavily on Social Security benefits, and for some it’s their only source of income. Currently, Americans will stop receiving their...

A week ago we learned that the go-broke date for Social Security had been pushed back by a whole year:The annual Social Security and Medicare trustees report released Thursday says Social Security’s trust fund will be unable to pay full benefits beginning in 2035, instead of last year’s estimate of 2034. The year before that it estimated an exhaustion date of 2035.The projected depletion date for Medicare’s trust fund for inpatient hospital care moved back two years to 2028 from last year’s forecast of 2026…When the Social Security trust fund is depleted the government will be able to pay 80%...

Partial transcript: “So this time we have a worse financial crisis than last time and nobody gets a bailout, nobody gets a government check there is no TARP there is nothing and what does that mean that means the US government instead of sending stimulus checks to Americans who were struggling, who are unemployed the US government is actually going to send Americans a bill because the government is going to be forced to raise taxes on the people who still have jobs because that's the only way it can pay its bills but you know what else they're going...

Millions of seniors today rely on Social Security as a critical source of retirement income. And chances are, many future retirees will depend heavily on those benefits as well. But Social Security is facing its share of financial challenges that could have devastating consequences for current and future retirees alike. And if lawmakers don't intervene, the results could be downright catastrophic. There's a serious revenue shortfall at play Social Security primarily relies on payroll taxes (the ones we all hate paying) to stay afloat. But in the coming years, that income stream is expected to shrink. That's because baby boomers...

Hi FRiends, Happy Thanksgiving I hope you are having good weather and a relaxing time. I have a Question on Medicare Plans. My Wife and I are thinking about Advantage Plans to replace Traditional Medicare. We are 81/83 now and active. We currently have Traditional Medicare with a Gap Policy. The latest offerings from United Healthcare Advantage Plans seem to have taken care of out-of-network services with their Passport which create instantaneous in-network charges in most States that we visit. Emergency care is Covered in any State. Our current Doctors accept this Advantage Plan. Our Saving would be about $5000./year...

(CNN)The federal government announced a large hike in Medicare premiums Friday night, blaming the pandemic but also what it called uncertainty over how much it may have to be forced to pay for a pricey and controversial new Alzheimer's drug. The 14.5% increase in Part B premiums will take monthly payments for those in the lowest income bracket from $148.50 a month this year to $170.10 in 2022. Medicare Part B covers physician services, outpatient hospital services, certain home health services, medical equipment, and certain other medical and health services not covered by Medicare Part A, including medications given in...