SS recipients could get good increase 2023 - Page 6

JamandBread · ‎06-24-2021

@ALRATIBA wrote:
I'm looking at various sources re projected increase ...and all I see are "news" organizations. How reliable are they?

I'm not dependent on SS - I have a pension and annuity. I paid into Social Security for almost 50 years ... and retired at 68.

I'll be perfectly satisfied with any increase.

Where else would you get info if not from news organizations?

gidgetgh · ‎03-09-2010

@gertrudecloset wrote:
@phoenixbrd wrote:
The last raise for ss checks was the same amount that they raised the Part B payment that is required. It was a wash. Inflation is now 9%...so if there is another hit on Part B...you are losing money. All will be revealed in the new year.
I didn't lose anything with the last COLA. There was enough in my check to cover the raise in the monthly Part B taken out on top of the fact that I got a hefty increase in my check. The fact is, that this relative to what you are receiving from SSA.

I can't speak for this one coming up, but I was very pleased with the last COLA. No "wash" for me.

@gertrudecloset - yeah, same for me. Even with the Medicare Part B increase, I came out with a net increase.

Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?

sometimesQVCaddict · ‎03-09-2010

Must be nice to even get SS! My generation & probably those after me might not even get it! I should be the one complaining, and I guess I am! And pensions don't exist for many in the workplace now not close to retirement age. Thats a long gone thing for current jobs. So complaining about anything related to SS falls on deaf ears to me personally as I'd be happy with 5 dollars a month from the government when I retire, and probably will get nothing.

Wanna talk about a "fixed income" when that number is zero??? That's what future generations have to look forward to. I foresee retirement for anyone being a pipe dream unfortunately for future generations.

Be happy you're getting anything! Maybe some perspective helps.

SilleeMee · ‎05-22-2016

I receive state pension and this year we got a whopping 1% (ONE PERCENT) increase...

Next year won't be much more than that I'm sure.

Calcgirl · ‎03-10-2010

@ThinkingOutLoud wrote:
@JamandBread wrote:
@vsm wrote:
@LuvSoCal wrote:
@vsm wrote:
More spending means more inflation. That's not politics -- it's economics 101.
But @vsm I think many of the recipients will be spending their COLAs on necessities and not frivolous purchases.
Unfortunately, the purpose of the spending doesn't matter to the inflationary spiral. Spending is spending, and it juices up inflation to the point that only a recession will reduce it. Recession will in turn make necessities even harder to come by.
Actually, the increase is not intended to provide MORE buying power. It is intended to keep pace with current prices. With that said, spending will not increase, so no inflationary impact. The covid stimulus checks to everyone is an example of EXTRA money which has an inflationary impact.
Inflation is world wide and has been ratcheted up by the pandemic and supply chain disruptions. It will take all the countries who drive the global economy to solve the price hikes caused by the pandemic.
There's a big piece of the puzzle missing here.

Actually, there is no puzzle, just plain economics 101. When the quantity of supply decreases and the quantity of demand increases prices increase=inflation. Which is why inflation is world-wide right now. The pandemic caused companies to close or drastically decrease production, ships are stalled, etc; therefore, the supply drastically decreased.

ThinkingOutLoud · ‎05-01-2020

@Calcgirl wrote:
@ThinkingOutLoud wrote:
@JamandBread wrote:
@vsm wrote:
@LuvSoCal wrote:
@vsm wrote:
More spending means more inflation. That's not politics -- it's economics 101.
But @vsm I think many of the recipients will be spending their COLAs on necessities and not frivolous purchases.
Unfortunately, the purpose of the spending doesn't matter to the inflationary spiral. Spending is spending, and it juices up inflation to the point that only a recession will reduce it. Recession will in turn make necessities even harder to come by.
Actually, the increase is not intended to provide MORE buying power. It is intended to keep pace with current prices. With that said, spending will not increase, so no inflationary impact. The covid stimulus checks to everyone is an example of EXTRA money which has an inflationary impact.
Inflation is world wide and has been ratcheted up by the pandemic and supply chain disruptions. It will take all the countries who drive the global economy to solve the price hikes caused by the pandemic.
There's a big piece of the puzzle missing here.
Actually, there is no puzzle, just plain economics 101. When the quantity of supply decreases and the quantity of demand increases prices increase=inflation. Which is why inflation is world-wide right now. The pandemic caused companies to close or drastically decrease production, ships are stalled, etc; therefore, the supply drastically decreased.

When countries decide green energy is utopia and force policies, gas increases which affects the price of everything else = inflation.

JamandBread · ‎06-24-2021

@Calcgirl wrote:
@ThinkingOutLoud wrote:
@JamandBread wrote:
@vsm wrote:
@LuvSoCal wrote:
@vsm wrote:
More spending means more inflation. That's not politics -- it's economics 101.
But @vsm I think many of the recipients will be spending their COLAs on necessities and not frivolous purchases.
Unfortunately, the purpose of the spending doesn't matter to the inflationary spiral. Spending is spending, and it juices up inflation to the point that only a recession will reduce it. Recession will in turn make necessities even harder to come by.
Actually, the increase is not intended to provide MORE buying power. It is intended to keep pace with current prices. With that said, spending will not increase, so no inflationary impact. The covid stimulus checks to everyone is an example of EXTRA money which has an inflationary impact.
Inflation is world wide and has been ratcheted up by the pandemic and supply chain disruptions. It will take all the countries who drive the global economy to solve the price hikes caused by the pandemic.
There's a big piece of the puzzle missing here.
Actually, there is no puzzle, just plain economics 101. When the quantity of supply decreases and the quantity of demand increases prices increase=inflation. Which is why inflation is world-wide right now. The pandemic caused companies to close or drastically decrease production, ships are stalled, etc; therefore, the supply drastically decreased.

People believe alternative facts. Alternative facts, by their very nature, are not truths.

So the ability for alternative fact believers to digest the actual truth is near zero.

No matter how logical or backed up with evidence the truth may be.

Lucky Charm · ‎03-09-2010

Rumors back in the mid 70s when I started working that there would be no Social Security for me (my generation) when I retired.

I think it was because of the money we spent on wars was the reason back then.

Well, it's still around 50 years later and we're still spending money on wars as I type.....

Neither of us are collecting at this point though.

Tinkrbl44 · ‎08-23-2010

@Lucky Charm wrote:
Rumors back in the mid 70s when I started working that there would be no Social Security for me (my generation) when I retired.

I think it was because of the money we spent on wars was the reason back then.

Well, it's still around 50 years later and we're still spending money on wars as I type.....

Neither of us are collecting at this point though.

@Lucky Charm @sometimesQVCaddict

As you say, those were rumors.

While there have been instances where some legislative body "borrowed" from some other fund, they had to pay it back, with interest. It happened.

I can't even imagine legislative people would be stupid enough to reduce something that taxpayers paid into themselves, for their retirements.

Talk about putting a bulls eye on one's back! All hell-o would break loose! Yikes!

vsm · ‎05-08-2010

@JamandBread wrote:
@vsm wrote:
@LuvSoCal wrote:
@vsm wrote:
More spending means more inflation. That's not politics -- it's economics 101.
But @vsm I think many of the recipients will be spending their COLAs on necessities and not frivolous purchases.
Unfortunately, the purpose of the spending doesn't matter to the inflationary spiral. Spending is spending, and it juices up inflation to the point that only a recession will reduce it. Recession will in turn make necessities even harder to come by.
Actually, the increase is not intended to provide MORE buying power. It is intended to keep pace with current prices. With that said, spending will not increase, so no inflationary impact. The covid stimulus checks to everyone is an example of EXTRA money which has an inflationary impact.
Inflation is world wide and has been ratcheted up by the pandemic and supply chain disruptions. It will take all the countries who drive the global economy to solve the price hikes caused by the pandemic.

Would that this were so, but it's not. Again, more spending by the government so that the people suffering from its inflationary policies can "keep pace" with inflation is itself inflationary. The reason for the additional spending is irrelevant. Spending stimulates demand, regardless of its purpose -- and that remains the case even though other governments are doing the same thing in a vain attempt to blunt the impact of having spent money they didn't have but simply printed.

One way or the other, the piper will be paid. If we don't pay the bill, our grandchildren and their children will have to, and it will be an even bigger one, as interest rates rise to compensate for the declining value of the dollar.