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The Future of Social Security Benefit Increases
For the third time in the past seven years, Social Security beneficiaries did not receive a cost-of-living increase in 2016, and the trend is likely to continue. Even if there is an increase in 2017, it is projected to be very low. The way that the increase is calculate tries to stay current with inflation, but the algorithm leaves many discontented, explaining that it does not take in to account the spending patterns of those it is meant to help. The recent trustee report shows that next year could see an increase between 0 and 0.7%. For more information visit this article by Darla Mercado with CNBC.
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