Here it is Social Security recipients. The 2025 COLA. A whopping 2.5% increase. Arent you thrilled ? Wanna throw a party ?
This is a
DROP of 0.7% from the 2024 COLA. In the meantime, the rent on all apartments where I used to live has skyrocketd from $600/month to $1200, in just 3 years. If the landlord requires your little chicken coop to be renovated, uh oh, now you're paying $1600/month (167% increase from the $600).
So let's take the lower amount IF you're lucky enough to evade the renovation hammer. Your rent increase is $1000 more out of your pocket, Your 3 years COLAs are about $86.
Both candidates for president are ignoring this, leaving us to think they're OK with it. Of course if Trump had become president in 2021, we would have had the near zero inflation we had all 4 years of his presidency, an we wouldn't have thr astronomical food and gas prices & housing rents of the current Biden train wreck.
But before election day gets here, somebody needs to talk directly and honestly about this absurd and insulting COLA we're heading to in Jan 2025. Trump's dodge talk about economic growth, and Harris' typical, mindless, word salads won't cut it. Only something that directly matches up to the inflation we're drowning in, will.
Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5% in 2025, the Social Security Administration announced today. On average…
blog.ssa.gov