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Medical copays reduce health care access in MS prisons; Israel planted explosives in pagers sold to Hezbollah according to official sources; Serving looks with books: Libraries fight 'fast fashion' by lending clothes; Menhaden decline threatens Virginia's ecosystem, fisheries.

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JD Vance calls for toning down political rhetoric, while calls for his resignation grow because of his own comments. The Secret Service again faces intense criticism, and a right to IVF is again voted down in the US Senate.

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A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Governor Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

Social Security Benefits Expected to Increase, But Challenges Remain

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Wednesday, October 5, 2022   

Social Security benefits could see their highest increase in several decades, but those advocating for beneficiaries say there is still plenty of concern about today's financial hardships.

The latest forecast indicates 2023 benefits will increase by around 9% when the decision is announced this month.

Richard Fiesta, executive director of the Alliance for Retired Americans, said while the increase helps to temper inflation, it falls short for many older Americans.

"It's still not enough in terms of basic benefits," Fiesta argued. "To keep pace with seniors who have much higher costs in health care, in transportation and housing and basic necessities like food than the rest of the population."

Fiesta is advocating for bills in Congress to expand benefits and boost the Social Security tax cap in order to extend the program's solvency. However, Republicans, including Sen. Rick Scott, R-Fla., have been calling for sunsetting government programs such as Medicare and Social Security every five years.

Jon Bauman, president of Social Security Works's political action committee, thinks the sunset proposal is preposterous because the money in the Social Security Trust Fund comes directly from workers' wages during all of their lives and their employers' contribution.

"But I guess these guys are proposing that, 'Ya, we're going to decide whether we're actually going to give those people that money that was guaranteed to them or maybe we just won't.' Which seems quite remarkable," Bauman remarked. "Social Security's been around since 1935 and hasn't missed a payment yet."

Fiesta believes one way to revamp the program's funding challenges is to get rid of the current wage cap which is $147,000 dollars, which means people who make more are not subject to social security withholding on earnings above that level.

"We think if you would raise that cap you could make the Social Security Trust Fund more financially stable well into the future," Fiesta contended. "And also increase benefits, especially for people who may not have made a lot in their working life."

Disclosure: Social Security Works contributes to our fund for reporting on Budget Policy and Priorities, Health Issues, Senior Issues, and Social Justice. If you would like to help support news in the public interest, click here.


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