Social Security recipients expected to not receive increase next year

Millions of social security recipients can expect no increase in benefits next year. It’s the third time it has happened in 40 years.

KRDO NewsChannel13 talked with some people affected by the change, who say it’s already a struggle to survive on current Social Security budget.

John and Carol Buckley are two of those people.

“Right now, we’re having our main meal 5 days a week. And making this supplement our groceries,” John and Carol Buckley explained.

Though they’re living happy, healthy lives, the Buckleys say they’re constantly having to stretch their dollar. They say that no increase in benefits next year would put them in even more of a bind.

The government is expected to announce the annual cost-of-living adjustment.. or “COLA” on Thursday, when it releases the Consumer Price Index for September. Inflation has been so low this year that economists say there is little chance the September numbers will produce a benefit increase for next year.

Prices at the pump drop and typically, so does the inflation rate, which drives the decision for no raises.

“A typical older person is in a squeeze and the squeeze is because the items that they must pay for… It’s healthcare. It’s food, it’s rent, it’s the cost of having a phone,” said Henry Barlow, economist.

“It’s gonna be difficult because while our benefits don’t go up, everything else does,” said Carol. “How can I stretch the budget a little farther? What can I do to make it less expensive?”

The Buckleys are hopeful, however, that something will give, for themselves and others. In all, the COLA adjustment affects payments to more than 70 million Americans.