Social Security checks are heavily promoted as inflation rises. Government. & Politics

Texas News Today

“It moves very fast,” retired Cliff Ramsey said of the rising cost of living. After a sales career at a major steelmaker, Ramsey lives near Hilton Head Island, South Carolina. At home, he looks after his wife, Judy, who has developed Alzheimer’s disease for nearly 60 years. In the aftermath of the coronavirus pandemic, Ramsey also said she sometimes referred to wages paid to caregivers who spelled her out and increased prices for Judy’s personal care products.

COLA affects one in five American households. This includes Social Security recipients, disabled veterans and federal retirees, for a total of about 70 million people. For Baby Boomers who retire within the past 15 years, this will be the biggest increase they’ve ever seen.

These include Kitty Ruderman of Queens, New York City. He’s retired from his career as an executive assistant and has been collecting Social Security for nearly 10 years. “We are waiting to hear what the increase will be every year, and every year it was not so significant,” she said. “Thanks for this year. Makes a difference.”

Ruderman says it’s taking her time to buy groceries to take advantage of the senior discount in the middle of the week, but the increase in prices was still “excessive.” She says that she doesn’t think she can afford the medicine prescribed by her doctor.

AARP CEO Joe Ann Jenkins called the increase in government payments “critical for Social Security beneficiaries and their families to keep up with the rising costs.”

Social Security checks are heavily promoted as inflation rises. Government. & Politics

Source Link Social Security checks are heavily promoted as inflation rises. Government. & Politics

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