Joe Biden has been playing with Social Security recipients’ benefits for months now.
Under Trump, retirees saw their payouts increase. He fought to protect benefits when some told him to cut them.
Biden hasn’t kept the same promise. Word circulated that, because of inflation, SS checks would go up.
But now that Biden is denying his 40-year-high inflation, that news is being reversed.
From Fox Business:
The record 2023 Social Security benefits increase could be lower than previously expected as inflation eases, according to a new forecast from The Senior Citizens League…
The latest CPI data showed that the Social Security cost-of-living adjustment (COLA) could be 8.7% for 2023, according to The Senior Citizens League. This is down from the group’s forecast last month when it said benefits could increase by as much as 9.6% next year.
Make no mistake, Biden’s economy has forced historically high inflation. Americans depending on Social Security are in a tough spot–as everything is costing more.
But the reported 9.6% increase in benefits, which was supposed to happen next year, might be cut to just 8.7%.
Just one percentage point can mean the difference between keeping the lights on and not–for many Americans.
Keep in mind, this is an adjustment for inflation that hit us this year. Which means, Social Security recipients already need an increase, because of rising costs.
This increase is only compensating for something that already happened. To cut it back could spell doom for many Americans.
But it looks like the Biden administration is playing games with American lives.
He’s sent over $40 billion to Ukraine over the last year. Yet he wants to nickel-and-dime retired Americans?
These citizens had their paychecks depleted to keep Social Security going for decades.
Yet now, Biden wants to skimp on their payouts, because inflation dropped a fraction of a percent?
Again and again, we see Democrats bending over backward to help foreigners, migrants, and nations overseas.
But they seem to go out of their way to give hard-working Americans the shaft.
Isn’t that backwards?
- The Social Security increase for 2023 might be lower than originally predicted.
- This is due to the Biden administration’s claims that inflation is going down.
Source: Fox Business