Social Security Cost-Of-Living Adjustment Largest In Decades

The video discusses a 5.9% cost of living increase, the largest in 39 years, providing an extra $92 monthly. This adjustment comes as the economy deals with inflation and the pandemic's effects. Historically, cost of living adjustments averaged just over 1.6% in the past decade.

What is the percentage increase in the cost of living for next year?

• 4.5%

• 5.9%

• 6.2%

• 7.0%

How much extra money per month does the cost of living increase provide?

• $92.00

• $85.00

• $75.00

• $100.00

How many years has it been since the last largest cost of living adjustment?

• 29 years

• 59 years

• 39 years

• 49 years

What economic challenges are mentioned as influencing the cost of living adjustment?

• Stagnation

• Inflation

• Recession

• Deflation

What was the average cost of living adjustment over the past ten years?

• 2.4%

• 1.6%

• 1.2%

• 2.0%