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No Surprise! Most unhappy with their Social Security payments - Newsweek
Although not exactly a blockbuster finding, a recent survey found that by far the majority of seniors are dissatisfied with their monthly Social Security payment. That, of course, is the result of runaway inflation in the past several years, which saw living costs rising even faster than the annual increase in Social Security benefits through Cost of Living Adjustments (COLA). In fact, this survey found that almost 73% of seniors say that Social Security represents at least half of their retirement income, and 39% of American seniors say it is their only source of income in retirement. And this is testimony to the crucial nature of the Social Security program, which keeps millions of American seniors out of poverty. Nevertheless, Social Security income has been deteriorating in its buying power for years, as explained in this Newsweek article by Aliss Higham.