Shutdown Delays Social Security COLA Announcements and Benefits
TL;DR
The announcement of the 2024 Social Security cost-of-living adjustment (COLA) has been delayed due to the ongoing government shutdown, which also affects the release of the Consumer Price Index. The delay impacts millions of beneficiaries, with projections of a 2.7% increase, but concerns remain about whether this will be sufficient to cover rising costs. Lawmakers are considering alternative measures, such as using the CPI-E, to better reflect the expenses faced by older Americans. The shutdown and workforce cuts threaten the financial stability of the Social Security program.
Topics:businessworld#benefits#cost-of-living-adjustment#government-shutdown#inflation#social-security#world
- Social Security’s cost-of-living announcement is delayed, yet another shutdown side effect PBS
- Social Security COLA for 2026: Agency confirms when to expect announcement CNBC
- Shutdown stalls adjustments for Social Security payments, leaving many seniors waiting Scripps News
- Social Security workers say the shutdown has them unable to help with benefit letters NPR
- Live updates: Judge temporarily blocks Trump's shutdown layoffs NBC10 Philadelphia
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