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Trump crows about Social Security boost —but there's a catch
What happened
AlterNet reports that the Trump administration presented a 3.6 percent Social Security cost-of-living adjustment for 76 million Americans as an improvement in financial stability. The catch is that the increase reflects higher prices rather than a discretionary benefit expansion: prices were reportedly 3.7 percent above their year-earlier level.
Former Social Security Commissioner Martin O’Malley told AlterNet that the adjustment would not preserve retirees’ purchasing power, citing food costs and Medicare copays. He also argued that Social Security’s longer-term financing…
The skinny
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