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The Problem With News Headlines These days
Social Security is fairly prominent in the daily news cycle these days, from its looming insolvency to the chaos stemming from office schedules, staffing changes, and revisions to many of the access rules. So it’s little wonder that a headline like “How Social Security Benefit Payments Changed Over the Last Year” might grab the attention of a reader wanting to be updated on retirement matters or, more importantly, a retired beneficiary concerned about changes in their monthly income from the program. Spoiler alert: the article carrying this headline has virtually nothing to do with what are commonly called Social Security benefits; rather, the article is focused on Supplemental Security Income (SSI), a program separate and apart from the world of Social Security retirement benefits.
So, with that clarification out of the way, note that the Newsweek article by Suzanne Blake I informative for those drawing SSI benefits, since it recaps changes to the statistics on this program over the past year. It also touches on the impact of the recent Social Security Fairness Act implementation and Social Security’s COLA process. You can read the full article here…