Government Shutdown Delays Social Security Cost-of-Living Increase Announcement

The ongoing government shutdown has delayed the announcement of the 2024 Social Security cost-of-living adjustment (COLA) to October 24, affecting 70.6 million beneficiaries. Advocates are pushing for a change in how COLA is calculated to better reflect seniors’ expenses, as current projections suggest only a 2.7% increase, insufficient to meet rising costs.

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