An 8.7% increase in Social Security benefits is on the horizon for 2023, and not coming a moment too soon.
Around 70 million Americans will receive this 8.7% increase, and again not coming a moment too soon.
This increase in benefits is the largest in 40 years. The average increase in benefits will be about $144.
Another benefit on the horizon is that Medicare premiums for Part B will drop 3%, “giving seniors more peace of mind and breathing room,” again not coming a moment too soon.
In the past the cost of living benefits have been eaten up by the Medicare premiums.
These new cost of living benefits have come about by the Inflation Reduction Act thanks to the Democrats.
Republicans, the likes of Kevin McCarthy and Lindsey Graham, are hell-bent into ending Social Security and Medicare, and to this I say Democrats, stop them.
We Americans have gone through inflation before and due to our perseverance and willpower we have survived them. The present inflation will run its course and adjust itself to a reasonable percentage in time.
Hang in there, America. Help is on its way in 2023 with these new benefits.