Social Security Cost-Of-Living Adjustment To Be Announced Thursday

The video discusses the financial challenges faced by seniors relying on Social Security, highlighting increased debt and reliance on food assistance. It explains potential adjustments to Social Security payments based on the Consumer Price Index, which could result in the largest increase since 1981. The future of Social Security is uncertain due to changing demographics and fewer workers contributing to the payroll tax. The video emphasizes the political debate surrounding Social Security's sustainability, especially as baby boomers form a significant part of the electorate.

What percentage of Americans aged 55 and older have used half of their emergency savings?

• 100%

• 50%

• 25%

• 75%

What is the expected percentage increase in Social Security payments this year?

• 8.7%

• 5.9%

• 3.5%

• 10.2%

How much extra per month could the average Social Security payment increase by?

• $146

• $100

• $250

• $200

By what year is Social Security projected to potentially become insolvent?

• 2035

• 2030

• 2040

• 2025

What is a major reason for the potential insolvency of Social Security?

• Increased government spending

• Decreasing birth rates

• Higher interest rates

• Lower retirement age