Why 2023 Social Security increases should be less

Inflation is destroying many people's finances. With gas, energy, clothing, and food costing more, many people are suffering.
Seniors are similar.

After Social Security's most generous cost-of-living adjustment (COLA) in decades, many retirees are having trouble keeping up with living expenditures.

Social Security beneficiaries shouldn't seek a big COLA in 2023. If the 8.6% boost happens, growing living expenses will likely leave seniors financially behind even after their benefits rise.

Since 2000, SSI recipients have lost buying power. A hefty COLA for 2023 won't solve this problem. So a big COLA isn't worth it. Seniors should hope politicians reform how increases are computed.

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