{"id":1687072,"date":"2022-10-12T17:23:52","date_gmt":"2022-10-12T21:23:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687072"},"modified":"2022-10-12T17:24:04","modified_gmt":"2022-10-12T21:24:04","slug":"heres-how-much-the-white-house-is-expecting-social-security-payments-to-increase","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/heres-how-much-the-white-house-is-expecting-social-security-payments-to-increase\/","title":{"rendered":"Here\u2019s How Much the White House Is Expecting Social Security Payments to Increase"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fheres-how-much-the-white-house-is-expecting-social-security-payments-to-increase%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687072&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The <a href=\"https:\/\/www.theepochtimes.com\/t-white-house\">White House<\/a> on Wednesday predicted that people receiving\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-social-security\">Social Security<\/a> payments will see a $140 per month increase when the\u00a0Social Security Administration is slated to announce a cost of living adjustment (COLA) on Thursday.<\/p>\n<p>\u201cTomorrow, seniors and other Americans on Social Security are will learn precisely how much their monthly checks will increase\u2014but experts forecast it will be $140 per month, on average, starting in January. For the first time in over a decade, seniors\u2019 Medicare premiums will decrease even as their Social Security checks increase,\u201d White House press secretary Karine Jean-Pierre <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/10\/12\/statement-from-press-secretary-karine-jean-pierre-on-social-security\/\">said<\/a> in a release.<\/p>\n<p>Jean-Pierre stated an increase will allow Americans on Social Security to deal with decades-high inflation. The consumer price index, a key barometer for inflation, rose 8.3 percent year-over-year in August, according to the Labor Department.<\/p>\n<p>\u201cThis means that seniors will have a chance to get ahead of inflation, due to the rare combination of rising benefits and falling premiums. We will put more money in their pockets and provide them with a little extra breathing room,\u201d Jean-Pierre said.<\/p>\n<p>It\u2019s because of decades-high inflation that the COLA will be increased by the\u00a0Social Security Administration to such a high amount.<\/p>\n<p>There have been concerns that the increase for 2023 may not be able to cover the rise in prices due to inflation. Last year, when the administration announced a 5.9 percent adjustment for Social Security payments in 2022, inflation soared well above that and hit 9.1 percent in June.<\/p>\n<p>Mary Johnson, with the Senior Citizens League, <a href=\"https:\/\/www.theepochtimes.com\/mkt_app\/social-security-payments-update-coming-this-week-and-it-could-be-significant_4786826.html\">said in July<\/a> that \u201cthere can be some very long-term effects to high inflation COLAs,\u201d adding, \u201cIt\u2019s like a no-win situation.\u201d The relatively high COLA could place some retirees over an income threshold that will force them to pay income taxes, she noted.<\/p>\n<p>She noted there are \u201ctens of thousands\u201d of<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The White House on Wednesday predicted that people receiving\u00a0Social Security payments will see a $140 per month increase when the\u00a0Social Security Administration is slated to announce a cost of living adjustment (COLA) on Thursday. \u201cTomorrow, seniors and other Americans on Social Security are will learn precisely how much their monthly checks will increase\u2014but experts forecast [\u2026]<\/p>\n","protected":false},"author":58,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1687072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1687072"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1687072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1687072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1687072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}