Social Safety Proclaims Largest COLA in 40 Years
The Social Security Agency yesterday announced the largest COLA – cost of living adjustment – in 40 years. 5.9%.
Social Security recipients will get a 5.9% increase, but rising prices will offset the boost Social Security recipients will receive a 5.9% increase, but rising prices will offset the boost
Social security recipients will receive an annual cost of living adjustment of 5.9% next year, the largest increase since 1982, the social security agency said on Wednesday. The surge will add $ 92 per month to retirees’ monthly payments to an estimated average of $ 1,657 for the 2022 League. But that doesn’t mean they’ll be able to go on a shopping spree. The reason for the increase is that inflation is also rising sharply.
Security Income (SSI) recipients, like many of our adult children, now receive a maximum of $ 841 per month. They are expected to be able to make a living on this amount – find shelter, pay utilities, buy clothes and groceries, though they may also qualify for the Supplemental Nutrition Assistance Program (SNAP), which is currently $ 250.00 per month for one individual head of household. from $ 190 in 2020. If an adult with autism lives in a group home, that amount usually goes to the group home provider. If the adult lives at home with the family or in a private community, someone will need to supplement the SSI – typically mom and dad. In some cases it’s just mom who keeps the safety net (Kim holds up her hand), in other cases it’s dad or another family member. Regardless, nobody can really make a living from SSI.
Here are some of the increases:
Source: 7 Things That Will Get More Expensive in 2021
Fresh fruit: 5%
House prices: 25%
Uber / Elevator: 40%
Used cars and trucks: 45%
Here’s the catch: while COLA is generous, the cost of living is well over 6%. Take the used car industry, for example. Most low-income folks buy a used car versus a new one, and prices are up a whopping 45%. Housing is increasing everywhere as demand exceeds supply. In my area in Connecticut, one of the most expensive counties in the United States, prices have increased slightly by 25%. Rents have caught up, a disaster for those who cannot afford to own but need an apartment to live. The girls and I rent out our little ranch, and I hope the hell my landlord doesn’t raise the rent in June 2022. That keeps me up at night. My minivan is 11 years old and I hope old Bessie stays on the road for another 5 years. Few people think about what our loved ones need to survive as we get old. Many of us switched or gave up careers to take care of our children with autism. Or we went to work for far less than our worth. And we’re getting older. Old.
Anne Dachel is a great writer on the crushing cost of autism and mental health changes in schools around the world. But what about the financial consequences for families, yours, mine?