Social Security was never intended to provide full funding for those in retirement. It was designed to be a supplement to personal savings. Even minimum wage people can save some money until age 65.
What happened to families and children helping to support older family members as was done in the past? The U.S. government has become the support mechanism for too many people and cannot afford it.
The cost of living allowance (COLA) is tied to real inflation and is correct this year at 1.5 percent. Agian, Social Security was never intended to be the sole support for people in retirement. By the way, I am at retirement age myself – but still working.
Richard S. Sadler