Wild COLA prediction

[Carl the Engineer]

https://www.fool.com/investing/2022/07/23/social-security-checks-should-soar-in-2023/

Can only hope, 11.4% would be nice,

Carl

Don't morgage the farm just yet!

 

[Vync]

@Carl BaconUnrelated, but for what it's worth, when I read the title of this topic "Wild COLA Prediction", first thing I thought of was Jolt Cola, which was pretty wild back in the day. Apparently, they stopped selling it a few years back...

 

[broncovet]

My opinion is that Cola is mostly "smoke and mirrors".  Its almost a certainty, that, what ever Cola we wind up with, will be less than our actual increases in products we buy.  Its been that way for decades.  It looks like we have more money each month, but our expenses go up still more, so we keep going backwards.  

[Vync]

@broncovetDo you know if COLA increases for VA disability and Social Security are calculated the same way as active Federal employees?

[deedub75]

3 hours ago, Vync said:

@broncovetDo you know if COLA increases for VA disability and Social Security are calculated the same way as active Federal employees?

They aren't. Congress sets the COLA increases for active federal employees. The President usually proposes an amount but Congress has to back it, which they usually don't and the President ends up signing an executive order. 

[deedub75]

The FED is killing the high COLA projections. 

[Vync]

10 hours ago, deedub75 said:

The FED is killing the high COLA projections. 

Definitely downplaying it, but we will find out in a few months