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broncovet posted a question in VA Disability Compensation Benefits Claims Research ForumAs many of you know, our Cola for 2022 will be 5.9 percent. But wait! Its not really that much! Why? Before "we even begin the year 2022" our medicare part B, will increase 14.8 percent from 148 to 170 per month. That means medical, often a big part of seniors bills, will increase at almost 3 times as fast as our Cola. So, social security recipients (except those who opt out of part B) will see a good part of their Cola vaporize before the New Year even arrives. Neither Cars, nor gasoiline is any better. Used cars are up 32 percent, according to Consumer reports: https://www.consumerreports.org/buying-a-car/when-to-buy-a-used-car-a6584238157/#:~:text=Woolard says that current used,in the nation's inflation rate. Gasoline, from December last year, was 2.28 per gallon average. The most recent is 3.49 per gallon, that is an increase of 53 percent for the past year. COLA. 5.9 percent Cars. 32 percent Gasoline 53 percent. Medical. 14.8 percent. Ground beef, at my local store, is similar to gasoline..from 2.29 last year, to 3.49 this year. 53 percent. Jim Gaffigan said, that a friend of his cancelled his satellite tv subscription. Jim responded, "Why do you want to do that? What are you gonna do with your extra. $500 a month you will save? " He is not far off. By the time you figure one time fees (that occur over and over) taxes, fees that we have no idea what they are, and increases, your "29.00 per month cable bill" is well over 100 or even 200 per month, after the planned increases. I got rid of mine, too, and dont believe any cable company that says "29 per month".
GBArmy posted a question in Entitlement - Veterans Compensation Benefits ClaimsThe Social Security cost of living inflation adjustment was just announced. For 2022 benefits will be adjusted 5.9%, which is the highest adjustment in many years. VA compensation benefits, by law, will also receive the same adjustment. Increases will start to show up in our January deposits. Inflation is a nasty thing but this will help ease the pain.
broncovet posted a question in VA Disability Compensation Benefits Claims Research Forum2022 Cola is projected at 4.7%. https://www.myfederalretirement.com/2022-cola-estimate/ IMHO this is but a fraction of "real" inflation. A 2x4 that is 8 feet long, used to build a home, went from $2.25 last year to $8.45 today, about 400 percent. Gas has went way up, medicines are up, and, now there could be a beef/pork shortage. Shortages mean higher prices. https://nymag.com/intelligencer/2021/06/beef-shortages-probably-coming-thanks-to-jbs-hack.html