Those of us on Social Security are aware of a little thing called “COLA” (cost of living adjustment.)
It’s based on a very simple fact of economics. The value of money is not constant. Prices go up and down in response to a wide variety of constant, uncontrollable forces.
In recent years (the last 3 for example) my rent has gone up 20%. The cost of basic foods have risen (bread is up 20% in that time; milk up 15%). The price of a local bus ride has gone up roughly 19%. Don’t even ask about utilities, entertainment, gasoline, insurance and medical care. I am confident that those facts are valid across the entire country and in every community. The openness and fluidity of our society pretty much guarantees that.
My monthly Social Security income should be reflecting those cost increases, but it does not. My COLA has not gone up one penny in three years. The rigged figures the government uses to determine COLA claim that it has not gone up.
Obviously the federal agency saying that is either lying or incompetent.