[Editor’s note: While Simon is traveling today, other members of the Sovereign Man team penned today’s missive.]
This doesn’t make front page news… But it should.
Every year, cost of living adjustments increase Social Security benefits.
Over the past decade, payouts have increased by an average of 1.66% per year, according to the Social Security Administration (SSA).
But for 2019, the increase will be 2.8% to keep pace with inflation.
Seems like a trivial difference until you realize that’s 69% higher than expected.
That amounts to about $39 extra per check for the average retiree, according to the SSA.
And with about 62 million Americans receiving Social Security, that’s an extra $2.4 billion per month… $29 billion per year.