Excerpt
MARGARET WARNER (Newshour): Seniors and the disabled haven't seen an increase in their Social Security checks for nearly three years.
But, today, the government said 55 million recipients will get a 3.6 percent bump in benefits next January. The cost-of-living adjustment is tied to the rate of inflation. It means the average annual benefit of $14,200 will go up $43 a month, or $516 a year. The changes affect one in five Americans.
For more, we turn to Robert Reischauer, president of the Urban Institute. He serves as one of the public trustees of the Social Security and Medicare Trust Fund.
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