Recipients will be receiving a 1.7% COLA this month. News release from the Social Security Admin. here.
Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 64 million Americans will increase 1.7 percent in 2015.
The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 58 million Social Security beneficiaries receive in January 2015.
Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2014.
Last FY's total Treasury withdrawals for Social Security came in at about $760B so a 1.7% kick on this would represent an additional $13B of that number; without counting the additional net enrollees for this year.
So look for an additional amount of leading government spending flow well in excess of $1B per month from this SS COLA for surviving Social Security and SSI recipients.
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