There's a Big Problem With Social Security's
2025 Cost-of-Living Adjustment (COLA)
The Motley Fool, by Sean Williams
Posted By: crashnburn, 10/19/2024 11:23:10 PM
For Social Security's more than 68 million beneficiaries, nothing loomed larger last week than the annual reveal of the program's cost-of-living adjustment (COLA). Based on 23 years of annual surveys from Gallup, 80% to 90% of retirees (including 88% in 2024) have consistently pointed to their Social Security income as being necessary to make ends meet. For a majority of retired-worker beneficiaries, knowing how much they'll be receiving each month in the upcoming year is critical information. While Social Security's 2025 COLA marks the fourth consecutive year of an above-average payout, it also comes with a sizable, and unavoidable, problem.
Social Security is a legal Ponzi scheme.
Please correct if I'm wrong but sometime ago I'm thinking maybe 60's or earlier Congress decide to rob the cookie jar of Social Security Fund's that were well in the black and Congress never looked back it became a slush fund.