Social Security will soon announce the largest inflation adjustment to benefits in four decades a welcome development for millions of older Americans struggling to keep up with fast-rising living costs.
The cost-of-living adjustment for 2023 is likely to be around 8.7 percent, based on the latest government inflation figures. The final COLA, as the adjustment is known, will be released Thursday, when the federal government announces inflation figures for September.
Medicare enrollees can anticipate some additional good news: The standard Part B premium, which is typically deducted from Social Security benefits, will decline next year. We have inflation which is ramped and basically caused by trillion of spending dollars, and attitude towards Energy companies and lastly the sanctions against Russia that caused terrible impact on Europe-USA- and poor countries.
Just a thought.
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