Trumpflation Is Accelerating, Raising the Odds of the 5th-Largest Social Security COLA Over the Last 35 Years
A historic energy supply disruption may lead to an outsize Social Security raise in 2027.
Overview
After a quarter-century of annual surveys by Gallup, one thing is for certain: Social Security income is vital to the financial well-being of our nation's aging workforce. In just over one week, on Oct. 14, more than 71 million traditional Social Security beneficiaries, nearly 55 million of whom are retired workers, will know exactly how much their payouts will climb in 2027.
Social Security's cost-of-living adjustment (COLA) is the near-annual raise given to recipients to combat inflation (rising prices). Without these payout boosts, Social Security income would lose purchasing power over time.
Details
Social Security's 2027 COLA is shaping up as one of the largest of the last 35 years, thanks in large part to President Donald Trump's policies. Based on economic data, Trumpflation (inflation that's specifically driven by Trump's policies) is accelerating, which could lead to the fifth-largest Social Security raise since 1993.
Source
Originally published at www.fool.com.