$2,000 Stimulus Check for Social Security & Low Income SSI SSDI SSA Update 2023 COLA Increase

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$2,000 Stimulus Check for Social Security & Low Income SSI SSDI SSA 2023 COLA Increase
$2,000 Stimulus Check for Social Security & Low Income SSI SSDI SSA 2023 COLA Increase
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$2,000 Stimulus Check for Social Security & Low Income SSI SSDI SSA Update 2023 COLA Increase

What’s going on, guys? we discuss everything going on here in our country that you need to know about here on a daily basis. In this topic, I want to talk about a $2,000 stimulus check for people on Social Security, SSI, SSDI, VA, RRB, survivors, everybody underneath the Social Security umbrella, and even low-income for 2023. And while we’ve seen checks here in the past, we’ve had three stimulus checks here in the past.

And in 2022, we had about 35 states send out state stimulus checks and inflation relief checks, the largest stimulus check being statewise California sending out state stimulus checks or inflation relief checks, whatever you want to call them, to about 23 million people in the state of California. And then we had the largest dollar wise check, we had the state of Alaska sending out $3,200 checks in the state of Alaska. But it’s now 2023. So what will we have for the year 2023?

I will keep you up to date here with everything here for this new year in 2023. So what I want to show you here is a very disturbing fact. You can see here Social Security benefits. Social Security beneficiaries have lost 40% of their buying power over the years because of inflation 40% Let me show you here what this means. Yeah, so rising inflation has eroded Social Security’s purchasing power. Social Security benefits have lost 40% of their buying power just since the year 2000. So basically in the last 22, 23 years, 2023 is kind of just getting started, according to the ongoing study from the Senior Citizens League, a nonpartisan consumer group. The Senior Citizens League policy analyst Mary Johnson, who conducted the research, explained that the loss of purchasing power means retirees can’t buy as much as they used to be able to on Social Security.

To put this in context, for every $100 of goods or services that retirees bought in 2000, today they would only be able to buy $60 worth. When you go to the grocery store, when you fill up a cart of groceries for $100, it just doesn’t seem like what it used to be. $100 of groceries used to kind of be able to fill up a cards, maybe almost a whole card. Now it just doesn’t really go that far. Let me know in the comments if you kind of agree with me here.

$100 just ain’t that much anymore. And it’s kind of getting worse and worse and worse. Remember the cost of food last year went up over 13%, food costs being one of the largest costs that went up in 2023. We’ve seen gas prices kind of go up and go down, and they’re on the rise here yet again. I just did a recent topics where some analysts are predicting the gas prices could go up to $7 a gallon here in 2023, which would be crazy.

We actually seen some gas prices go up to $7 a gallon in certain parts of California in 2023 or in 2022. But this is kind of the problem here with what we’re seeing. And the problem is that the cost of living adjustment raises over the years with Social Security have kind of not really been enough. The other problem here is that every year when you get your cost of living adjustment for Social Security is that for a lot of people, you get it and then they reduce the food stamp and Snap benefit. For a lot of people.

This year and last year particularly because the cost of living adjustment raises were particularly large, this new increase that’s just happening here in January, being the largest Social Security race in 41, 42 years, going back to 1981, and the fourth largest race ever, particularly, it’s hitting a lot of people hard. I’ve seen thousands of comments from you guys here down below in the comments section saying the race was okay, it was decent, but then they reduced my Snap benefits by X amount of dollars. Some people saying that they reduced my Snap benefits by $50, $80, even $100 for some people, and it negated a lot of your raise. And then I get a lot of people saying, yeah, and then they also raised my rent by $50. This, that, and the other thing happened, and you’re not getting ahead at all.

Then the other problem here, which I covered here in a recent topic, is that now some people are actually being pushed into the bracket where Social Security is being taxable. Being taxable. So this is kind of the problem here that Congress needs to address. I just covered this here in a recent topic. I just did a recent topic here, six changes to Social Security that are happening here in 2023.

There’s a lot of changes that happen every year at the start of the year, this year, particularly for Social Security, that you need to know about. Also, Congress is trying to pass some fixes or some changes to Social Security here this year because in 2035, which is only twelve years away, it might seem like a long way away, but it’s really not.

Social Security is going to start to run out of money and have to reduce benefits if Congress doesn’t pass anything. And now with the Republicans taking over the House of Representatives and Democrats still controlling the Senate they’re trying to come up with a bill to do this. And Republicans and Democrats have slightly different ideas on how to do this. So we’ll be covering that here on our site. And I’ll be keeping you up to date here on this.

Democrats actually want to raise benefits by $2,400 a year to do this for everybody. So it actually could increase your benefits. Republicans not so much to do this, but their two plans are very similar. So if they can come to a compromise, they actually could be able to do this. But the problem with this is that along the way, seniors purchasing power has been reduced.

And you see this when you go to the grocery store because you’ve been getting these cost of living raises. But are you ahead? You guys can let me know your thoughts here in the comments. And you’re supposed to be able to retire in your golden years.

Even when you think about this, even the maximum amount of Social Security you can get now is like a little bit over $3,000 a month. That’s the maximum amount you can get. That’s like the rich people and the wealthy people that pay the maximum amount of Social Security can get a little bit over $3,000 a month. That’s only $36,000 a year. That’s what the maximum amount of Social Security you can get.

I mean, the average salary nowadays is 50 some thousand dollars according to the Census Bureau data. So the largest amount of Social Security that somebody could get if they pay the maximum amount every single year doesn’t even equal the average salary. And the other problem here is that the average rent is $2,000 a month. That’s $24,000 a year alone. Do you see how it’s not keeping up?

This is just not adding up. So you guys can limit your thoughts here, but Congress is going to have to do something. And this is why we need to be advocates. This is why I’m sending this message out here. I just sent a message out to the Senate Majority Leader, the President, and several members of Congress here.

A bill needs to be done here to not reduce Snap benefits and food benefits when the cost of living adjustment raises. I’m going to be sending out more messages here with multiple different things on your guys behalf because I think it’s just wrong.

When you get a Social Security adjustment raised that’s just supposed to keep up with inflation, what do they do? They take half of it back on the other end with your food benefits that’s just supposed to pay for food. So, I mean, you guys can let me know your thoughts here on this. But I think a lot of this, something needs to be done, something needs to be changed. And you tell me I’ll keep it the day here.

They’re working on multiple different bills in Congress right now. and I will see you in the next topic.

 

 

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