If you asked a Social Security recipient for a penny for their thoughts on next year’s projected 0.2% cost of livingadjustment, they could give it to you, but they’d only have $1.99 left.
That’s because the small increase would equal only an extra $2 a month for someone getting a $1,000 check, based on estimates released last week. And that’s after Social Security recipients saw no raise at all for 2016 — only the third time in four decades that has happened. The final figure for 2017 should be released in the fall.
Cost-of-living increases are based on the nation’s general rate of inflation, and the prices for the goods and services used to calculate inflation have barely budged
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