Opinion: Inflation now threatens the survival of Social Security
“On Thursday, the Social Security Administration announced that retirees will receive a cost-of-living adjustment of 8.7%, the highest boost since 1981. Retirees are celebrating this relief from rising prices, but it doesn’t bode well for Social Security’s long-term future. So long as wages grow at the same rate as inflation, extra taxes collected from workers should be enough to cover the extra costs. The problem is that wages aren’t keeping up.”