“Social Security COLA Estimate for 2022 Raised to 6.1%,”

“Social Security COLA Estimate for 2022 Raised to 6.1%,” by Ginger Szala, ThinkAdvisor

Quote:

“The annual cost-of-living adjustment, or COLA, for Social Security benefits in 2022 — usually announced in October — could be 6.1%, the highest since 1983, based on Tuesday’s Consumer Price Index announcement, according to Social Security and Medicare policy analyst Mary Johnson of the Senior Citizens League, which estimated the 2022 COLA at 5.3% a month ago.”

 

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

Whoopee! Don’t spend it all in one place. The June CPI increase was .9%, 10.8% annualized, so it’s running more than double the current 2022 5.3% expectation. In the meantime the federal government borrows or prints over half of its entire budget. This will not end well.