Social Security Benefits Are Losing Buying Power. Here's Why Lawmakers Aren't Fixing the Problem.
Solutions exist, but it's not a priority -- and for good reason.
Overview
If you rely on Social Security or expect to someday, you may be aware that benefits are eligible for an annual cost-of-living adjustment, or COLA. The purpose of COLAs is to help benefits keep up with rising costs.
But while Social Security benefits are designed to keep pace with inflation in theory, recent data shows they've been lagging in a serious way. The good news is that lawmakers can do something about it. The bad news is that they don't seem to be in a hurry to take action.
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Originally published at www.fool.com.
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