According to a recent article published by the Senior Citizens League, seniors have lost almost one third of their buying power since 2000. In most years seniors receive a small increase in their Social Security checks, intended to help them keep up with inflation. Since 2000, the Social Security Cost of Living Adjustment (COLA) has increased just 31%, while typical senior expenses have jumped 73%.
The future doesn't bode well for improving Social Security benefits making it a rough road ahead for seniors nationwide. This article displays an interesting table showing how various expenses have changed since 2000.
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