Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million older Americans will creep up that puny amount in 2020. Total SS increases over the past 30 years since my parole from the working world have totaled about 60%. However, inflation since 1990 has totaled nearly 100%.
For example, gas costing $2 a gallon in 1990 cost $4 in 2019. A tasty steak dinner was $20 way back then, but you’d have to shell out $40 today. A house in a nice neighborhood that went for $250k 30 years ago, sells for $500k today. So, Uncle Sam, if you really wanted to help the elderly cope, put a lid on inflation or give us more to spend than a teeny 1.6% increase in SS!