On Wednesday, The Conservative Review noted the Biden administration’s latest claim in their list of accomplishments.
The White House sent out the following Tweet:
Seniors are getting the biggest increase in their Social Security checks in 10 years through President Biden’s leadership.
— The White House (@WhiteHouse) November 1, 2022
Now, normally that might be something to brag about, but there is a catch–the increase in Social Security is linked by law to inflation–the White House has nothing to do with it.
The article notes:
Twitter added a fact check to the tweet, noting that while Seniors will receive an increase in their social security benefits, it’s “due to the annual cost of living adjustment, which is based on the inflation rate.”
CNN’s fact-checker Daniel Dale called the White House’s claim “quite the spin.”
“The size of Social Security checks is linked, by law, to inflation. This year’s increase is unusually big because the inflation rate is unusually big.”
Former President Richard Nixon signed a law into place in 1972 that granted automatic benefit adjustments based on the Consumer Price Index.
Frankly I would be happier with the same amount of Social Security if my dollars were actually worth anything. Inflation is a tax on everyone, and right now we are overtaxed.