Exploring Social Security's Cost of Living Increase Impact on Retirees
Wednesday, 9 October 2024, 12:00
Impact of Social Security's Cost of Living Increase
The Social Security cost-of-living increase aims to support retirees facing economic challenges. However, many believe it will not significantly alleviate their financial struggles.
Retirees' Concerns
- Sherri Myers, an 82-year-old from Pensacola City, Florida, states the increase 'won't make a dent.'
- With rising inflation, many elderly individuals are struggling to make ends meet.
- Adjustment rates have not kept pace with actual living costs.
The Bigger Picture
As the economy shifts, it's crucial for policymakers to re-evaluate how cost-of-living adjustments are determined.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.