New Projected PAY INCREASE for VA Benefit and Social Security Recipients.

According to The Senior Citizens League

Our model points to a substantially lower COLA for next year after the 3.2% COLA in 2023. “The 2025 COLA prediction is about 2.63%, up from 2.57% last month,” says Alex Moore, The Senior Citizens League’s Social Security and Medicare statistician and managing partner at Blacksmith Professional Services.

The rate of inflation, as measured by the Consumer Price Index used to calculate the Social Security cost-of-living adjustment (COLA), fell to 3.0% for June. Although easing inflation should relieve older consumers, the rapidly increasing price of groceries the 2020s have seen thus far mean financial relief is still far away.

From 2020 to 2023, the cost of the average grocery item with direct prices tracked by the CPI has risen by 24%. While eggs captured many headlines with a rise of 86%, many other key items, such as coffee, sugar, bread, and ham saw their cost increase by more than a third.

Rising grocery prices is creating food insecurity for many retirees. Feeding America estimated that 5.5 million Americans age 60 and above suffered from food insecurity in 2021, in the most recent study available on the subject, and that number is likely higher today.

In TSCL’s 2024 Senior Survey, which had more than 1,550 respondents from across the United States, 34% of retirees said they had visited a food pantry or applied for food stamps over the last 12 months. What’s more, 60% of respondents said food was the fastest-growing expense in their monthly budgets, which was more than double the next hardest-hit expense category, housing.

The Senior Citizens League will collect online and print petitions and use its collective voice to urge Members of Congress to pass legislation like the You Earned It, You Keep It Act. Sign the Stop Taxing Social Security Benefits Petition today!

[chrissmith]

Honestly even these pay raises aren’t enough for the cost of living 😢

[johnsnape]

They should add up the percentage higher cost of the top 20 items people actually buy, and use that for the COLA.
3% or less is BS.

[robertadams-njfk]

Inflation is way higher now so the Cola should go up hopefully..

[FranklinJohnson-vu]

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[michaelerickson]

I still say we should get what the military gets, as our service. Compensation relates to military service. Just my take.

[ChadPitts]

Wooohooo! That extra $107 for the entire year is really going to help me buy groceries 1 time for the year.

[starrleo]

Smh but the send billions else where and don think twice about!

[rorycalhoun]

Sorry Vets. Your raises went to UKRAINE. Now, go out there and keep fighting.

[paulfeasal]

It's a rip off. One they average it from three months. Two we get 1/12 of what its raising every year. You should get a raise adding up the entire year of how much the inflation added up each month to the total. In some cases it's penny's on the dollar like when we got a 8 percent raise. The highest month that year inflation was over double what we got in one month. We got the low for the year. Keep in mind that prices went up like 200 to 300 percent that year.

[dnomyaryevi]

I have been on Social Security for 14 years and VA for 19 years. The last 8 years at 100% VA. It took 10 years.

[koalafan]

That’s not an increase when inflation is around 10%. 🤦‍♂️😡

[firststrike]

I live in the San Joaquin Valley
PG&E have raised my rates by double or more compared to last July/AUGUST thanks to Governor Newsome who gave them the OK to raise rates, their profits are now in the Billions!
Disabled Veterans are falling into poverty.
A 30% increase in benefits is required and lowering the interest for veterans' home loans.
2.6% COLA IS UNREALISTIC IN THIS INFLATION PERIOD

[ronnstone]

It should be at the same rate inflation is for those on a fixed income!

[Ez_Rif]

Just saying I went from saving most of my va pay to now bleeding my savings it’s all gone

[JustAnotherJarhead]

Its not Pay
Its not a raise

Please stop using this term " pay raise ".

Its compensation
Its cost of living adjustment
Which is always terribly behind the real COL increases.

[wwilson]

Thanks Clay for keeping the veteran community inform 🎉.Job well done 👏.

[patg]

Food and gas cost went up 50% and cola goes up 2.6%. Makes no sense.

[todddillon]

Call your congress member and ask them to support HR 6023. Once this passes it opens doors for much more

[ronbliss]

Someone please tell me how a mere 2.63% increase (for me a $48.95) helps keep up with the cost of inflation? 😅

[donhodges]

Its going to be$100 now I can get some beef jerky for my top ramen