Thirty-three percent of adults aged 65 and up reported applying for food stamps or visiting a food pantry over the past 12 months, versus 22% in 2020, according to recent surveys. Could Social Security recipients get a break in 2023?
You don’t need to be a math whiz to understand that when you get a 5.9% raise, but inflation exceeds that, that you’re going to lose ground. That, in a nutshell, explains the problem that millions of Social Security recipients have encountered this year.
This year’s 5.9% boost was the biggest in four decades, according to Social Security Administration data. But Mary Johnson of the Senior Citizens League , a Washington-based nonpartisan group, calculates that boots-on-the-ground inflation—the true price that seniors are paying for essentials—has been sharply higher. By her reckoning, this means that the average monthly check this year, about $1,656, has actually been eroded, in real terms, by about $42 per month.
So it has been a difficult year. But could Social Security recipients get a break in 2023? The numbers suggest that this could be a possibility, though such a break would likely prove to be short-lived.Inflation, which exceeded this year’s cost of living increase, was so high that 2023’s increase will be a whopping 8.7%, the highest since 1981.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
New BMW 7 Series Tries On A Set Of Flashy $9k 22-inch Aftermarket Wheels | CarscoopsNew BMW 7 Series Tries On A Set Of Flashy $9k 22-inch Aftermarket Wheels | Carscoops carscoops
Consulte Mais informação »
Qantas, ITA Airways expanding service at SFO in 2023 - Silicon Valley Business JournalIn travel news, united is expected to face more competition flySFO for flights to Sydney and Rome next year. That could be good news for Bay Area travelers
Consulte Mais informação »
China to maintain ample liquidity in 2023 to implement proactive fiscal policy - state mediaChina will maintain reasonably ample liquidity in financial markets while better serving needs from the real economy next year, state media quoted a vice governor of the People's Bank of China (PBOC) as saying on Saturday.
Consulte Mais informação »
After a successful launch, Playdate looks ahead to 2023 | Digital TrendsThe Playdate made a strong first impression in 2022. Panic lays out a road map for what's next for the quirky handheld in 2023.
Consulte Mais informação »
Rising cost of climate change will challenge countries and companies in 2023🌎 Year in Review: Insurers felt the pain, as 2022 delivered three of the decade's costliest disasters - dystopian flooding in Pakistan, deadly summer heatwaves in Europe, and Hurricane Ian tearing across southern U.S., according to a risk modeling firm
Consulte Mais informação »
China to suffer over 1 million COVID deaths in 2023, new model predictsA new model predicts China could suffer more than one million COVID deaths in 2023, following a decision by its government to lift tight restrictions that limited its spread.
Consulte Mais informação »