When Donald Trump became president, he vowed to protect Americans who worked so hard all their lives. He vowed to protect Social Security, despite demands from his own staff to slash it. And he kept his word.
Joe Biden has not promised to protect senior Americans’ benefits. In fact, if he gets his spending bill through, we might see SS vanish in the years to come. But thanks to Biden’s reckless agenda, Social Security is going up. However, not for the right reasons.
Social Security benefits for approximately 70 million Americans will increase 5.9% next year, the Social Security Administration announced Wednesday.
Why it matters: It’s the largest cost-of-living adjustment in 39 years as inflation continues to tick up largely from supply chain issues, according to AP.
Come January 2022, Social Security benefits will increase by 5.9%. That is a massive increase, but it’s not a reason to celebrate. Yes, senior Americans will be receiving more money from the government.
But it comes at a cost.
The only reason the Social Security Administration has to raise benefits is because the cost of everything is going up. Biden’s haphazard spending, in addition to his failure to address the supply chain, is contributing to massive inflation.
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The Fed admitted they don’t know when the inflation will end, putting millions of Americans at risk. That includes seniors, who are on a fixed income.
We’d hoped we could say SS benefits are increasing because the government is putting Americans first. That the administration truly cares about Americans who worked so far to make this country great. But that’s not the case.
Biden is tanking our economy, putting a burden on all of us. He has no choice but to bump up benefits.
But because he refuses to properly manage Social Security, instead focusing on new entitlement blowout spending, it could run out pretty soon.