Should we change how COLA is calculate? - CNBC
Social Security recipients will receive their 2.8 percent COLA increase in January; however, with the annual inflation rate of 3 percent, seniors are struggling to keep up with rising prices. Not only are seniors dissatisfied with the meager amount, but a recent survey also found that only 10 percent of seniors were happy with the annual COLAs. Lawmakers and experts are debating whether the traditional way of calculating COLAs is out of sync with today’s economy. Lori Konish, writing for CNBC, reports on the fierce debate over which approach may be best when calculating the annual cost-of-living adjustment. Read Ms. Konish’s article here…
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