USA Watchdog? Sorry, just more hysteria and hyperbole from a source with no credibility.
The shit you people NEED to believe, just f'ing astounding.
Here's the good news, inflation will be up over the next three months because that's what happens, particularly in high vax states, when too many consumers are chasing to few goods because of pandemic induced supply chain problems. Find something to refute that.
Why is it good?
Inflation could prompt largest Social Security cost-of-living adjustment in decades. Why there’s a push to change the way it’s calculated
https://www.cnbc.com/2021/07/14/social-securi...cades.html
PUBLISHED WED, JUL 14 20212:23 PM EDT
Lorie Konish @LORIEKONISH
KEY POINTS
Seniors could see a much bigger bump to their Social Security benefits next year.
There could be as much as a 6.1% cost-of-living adjustment next year, based on estimates from the latest Consumer Price Index data.
That would be the biggest increase since 1983, according to non-partisan advocacy group The Senior Citizens League, which calculated the figure. It’s also a bump up from last month’s estimate, when the increase for next year was expected to be 5.3%.
The new estimate comes as the Consumer Price Index in June increased 5.4% from a year earlier, the largest gain since August 2008. Higher food and energy prices were among the culprits that helped push the inflation measure higher.
That helped push estimate the Social Security COLA for 2022 higher. That annual change is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.
A Step-by-Step of How Social Security's COLA Is Calculated
Determining your yearly Social Security "raise" is easier than you realize.
Sean Williams
(TMFUltraLong)
Mar 9, 2019 at 6:06AM
https://www.fool.com/retirement/2019/03/09/a-...s-cal.aspx
Step 2: Locate the only months of importance
Despite the BLS reporting monthly readings for the CPI-W, most of these readings will prove meaningless in calculating COLA. The only months that factor into the COLA calculation are those in the third quarter -- July, August, and September. The other nine months, while perhaps statistically intriguing and meaningful for other indexes, have no bearing on Social Security's COLA.
It's also worth noting here that the BLS reports previous-month data during the second week of the following month (e.g., July's CPI-W data comes out during the second week of August). This is why it takes until the second week of October to concretely figure out what the upcoming year's COLA will be.
The 8 Major Spending Categories That Affect Social Security's Cost-of-Living Adjustment
Ultimately, this is why the purchasing power of Social Security benefits is deteriorating.
Sean Williams
(TMFUltraLong)
Oct 8, 2017 at 8:47 AM
https://www.fool.com/retirement/2017/10/08/th...ocial.aspx
If there is a silver lining in the upcoming year for seniors, it's that the transportation category is liable to push Social Security's COLA a bit higher than was expected just a few months prior.
Hurricanes Harvey and Irma disrupted production at refineries and lifted crude prices, leading to an increase in gasoline prices. Higher gas prices will act as an inflationary pressure on the transportation category, potentially netting seniors a COLA that's probably around 2%. Though that's far from great, it's much better than the minuscule "raise" of 0.3% for 2017.
Food and beverages (cereal, milk, chicken, wine, full-service meals, snacks)
Housing (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
Apparel (men's shirts and sweaters, women's dresses, jewelry)
Transportation (new vehicles, airline fares, gasoline, motor vehicle insurance)
Medical care (prescription drugs and medical supplies, physicians' services, hospital services)
Recreation (televisions, toys, pets and pet products, sports equipment, admissions)
Education and communication (college tuition, postage, telephone services, computer software and accessories)
Other goods and services (tobacco and smoking products, haircuts and personal services)
The shit you people NEED to believe, just f'ing astounding.
Here's the good news, inflation will be up over the next three months because that's what happens, particularly in high vax states, when too many consumers are chasing to few goods because of pandemic induced supply chain problems. Find something to refute that.
Why is it good?
Inflation could prompt largest Social Security cost-of-living adjustment in decades. Why there’s a push to change the way it’s calculated
https://www.cnbc.com/2021/07/14/social-securi...cades.html
PUBLISHED WED, JUL 14 20212:23 PM EDT
Lorie Konish @LORIEKONISH
KEY POINTS
Seniors could see a much bigger bump to their Social Security benefits next year.
There could be as much as a 6.1% cost-of-living adjustment next year, based on estimates from the latest Consumer Price Index data.
That would be the biggest increase since 1983, according to non-partisan advocacy group The Senior Citizens League, which calculated the figure. It’s also a bump up from last month’s estimate, when the increase for next year was expected to be 5.3%.
The new estimate comes as the Consumer Price Index in June increased 5.4% from a year earlier, the largest gain since August 2008. Higher food and energy prices were among the culprits that helped push the inflation measure higher.
That helped push estimate the Social Security COLA for 2022 higher. That annual change is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.
A Step-by-Step of How Social Security's COLA Is Calculated
Determining your yearly Social Security "raise" is easier than you realize.
Sean Williams
(TMFUltraLong)
Mar 9, 2019 at 6:06AM
https://www.fool.com/retirement/2019/03/09/a-...s-cal.aspx
Step 2: Locate the only months of importance
Despite the BLS reporting monthly readings for the CPI-W, most of these readings will prove meaningless in calculating COLA. The only months that factor into the COLA calculation are those in the third quarter -- July, August, and September. The other nine months, while perhaps statistically intriguing and meaningful for other indexes, have no bearing on Social Security's COLA.
It's also worth noting here that the BLS reports previous-month data during the second week of the following month (e.g., July's CPI-W data comes out during the second week of August). This is why it takes until the second week of October to concretely figure out what the upcoming year's COLA will be.
The 8 Major Spending Categories That Affect Social Security's Cost-of-Living Adjustment
Ultimately, this is why the purchasing power of Social Security benefits is deteriorating.
Sean Williams
(TMFUltraLong)
Oct 8, 2017 at 8:47 AM
https://www.fool.com/retirement/2017/10/08/th...ocial.aspx
If there is a silver lining in the upcoming year for seniors, it's that the transportation category is liable to push Social Security's COLA a bit higher than was expected just a few months prior.
Hurricanes Harvey and Irma disrupted production at refineries and lifted crude prices, leading to an increase in gasoline prices. Higher gas prices will act as an inflationary pressure on the transportation category, potentially netting seniors a COLA that's probably around 2%. Though that's far from great, it's much better than the minuscule "raise" of 0.3% for 2017.
Food and beverages (cereal, milk, chicken, wine, full-service meals, snacks)
Housing (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
Apparel (men's shirts and sweaters, women's dresses, jewelry)
Transportation (new vehicles, airline fares, gasoline, motor vehicle insurance)
Medical care (prescription drugs and medical supplies, physicians' services, hospital services)
Recreation (televisions, toys, pets and pet products, sports equipment, admissions)
Education and communication (college tuition, postage, telephone services, computer software and accessories)
Other goods and services (tobacco and smoking products, haircuts and personal services)
1
