The roughly 65 million retirees who collect Social Security benefits in the US will get a 8.7% increase next year, the largest bump since 1981, to compensate for the highest inflation bout in decades
Problem is the inflation numbers are made up. It's a lot more. Next month well over 9% and climbing. They just needed to hold the appearance down until the COLA decision was made.
The job of the Feds is to provide infrastructures too, essentials deemed needful to a Free Society. It is not socialism to fund them, but ok, have it your way.