“2023 Social Security COLA Estimated at 7.6% as CPI Keeps Rising”

 

“2023 Social Security COLA Estimated at 7.6% as CPI Keeps Rising,” by Ginger Szala, ThinkAdvisor

 

 

Quote:

“The CPI increase of 7.9% in February doesn’t include commodity price jumps due to Russia’s invasion of Ukraine. Higher food prices have been a key reason seniors are struggling, The Senior Citizens League says. Indications are prices will continue to rise, despite what the Federal Reserve does.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

The monetary walls are closing on Social Security’s beleaguered trust fund. A perfect fiscal storm is coming for anyone dependent on any form of government financing. Current and growing inflation gives the lie to the Modern Monetary Theory that public spending with borrowed or printed money is unlimited.