Analysis: Raise Social Security Benefits for Retirees

The Social Security Administration's 2.8% cost-of-living adjustment for 2026 barely boosts the average retired worker's monthly benefit, leaving many seniors struggling to make ends meet. Despite relying heavily on Social Security, millions of older Americans live paycheck to paycheck due to rising costs for rent, groceries, and healthcare. The current cost-of-living adjustment formula, based on urban workers' habits, fails to account for seniors' actual spending, resulting in inadequate benefits that don't keep pace with inflation. Experts and advocates call for a more accurate measure focusing on senior spending, but Congress has yet to act. Increasing Social Security benefits, particularly for wealthier Americans, could alleviate poverty among seniors, fulfilling the promise of security they've earned through their working lives. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.