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No Increase in Social Security Benefits to Affect 70 Million Americans

More than one-fifth of the nation’s population can expect no increase in social security benefits next year. For just the third time in 40 years, social security benefits will not increase for America’s millions of disabled veterans and federal retirees.

The annual cost-of-living adjustment (COLA) is expected to be announced on Thursday, October 15, with few changes. The COLA is expected to be close to zero because of falling gas prices and little inflation over the past year. As a result of these two factors, social security benefits are expected to remain the same.

Since Congress introduced automatic increases for social security in 1975, increases in benefits have averaged 4 percent a year. Only two other years have not seen an increase in social security benefits (2010 and 2011).


By Tristan Rhee’ 17


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