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Social Security Boost Looms | Oakland News
Social Security benefits could see a bigger boost next year—with projections pointing to a 3.8% cost-of-living adjustment, up from last year’s 2.8%, potentially adding $73.62 to the average monthly check. While official numbers won’t arrive until October, this forecast signals a crucial step to combat inflation. But looming over the optimism is a sobering warning: without reform, the trust fund may hit a shortfall by 2032, risking significant benefit cuts. Advocates are urging Congress to act now—whether through recalibrating the COLA formula or adjusting payroll taxes—to ensure the system…
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