Social Security is not keeping up with inflation. The 0.03% Cost of Living Adjustment raise does not come close to adjusting for inflation. Because Social Security is not keeping up with inflation, thousands of seniors are living in abject poverty.
Social Security provides most of the retirement income for about half of all households headed up by people age 65 and older. Social Security provides, on average, $1,300 a month. For thousands of others, they receive $1,000 or less. They are living in abject poverty. Social Security should be raised, not only for today's recipients, but for future generations.
Why is this important?
Social Security is not keeping up with inflation. And the proposed cost of living adjustment is not enough to offset raising prices -- medical, food.
