Social Security's cost-of-living bump could reach almost 11%: Report
CBSN
Millions of seniors and others who receive Social Security benefits are on track for a big cost-of-living adjustment, or COLA, in early 2023 to catch up to the nation's highest inflation in four decades. One group is now estimating that the boost could be as high as 10.8%.
By comparison, a Social Security official earlier this month said he expects a COLA bump of about 8%, based on the current inflationary trends.
But if inflation continues at its current pace — the cost of goods and services in May accelerated to 8.6% — seniors could receive a COLA hike of 10.8% in early 2023, according to the new analysis from the non-partisan Committee for a Responsible Federal Budget. However, if inflation grinds to a halt over the final months of 2022, seniors would receive a COLA increase of 7.3%, the group said.
Fentanyl was found inside Barbie doll packages being sold at a discount store in Missouri, police said on Saturday. In:
New Jersey Senator Cory Booker hasn't been the mayor of Newark since 2013. But when he walks around his neighborhood, you'd never know it. One passer-by yelled out, "The best mayor ever!" In:
Fentanyl was found inside Barbie doll packages being sold at a discount store in Missouri, police said on Saturday. In:
CBS News contributor Arthur C. Brooks is the author of a new book, "The Meaning of Your Life: Finding Purpose in an Age of Emptiness." This morning, he's charting an unlikely path to happiness:
When gauging a war, Americans consider at least two important things: what the goals are overseas and its impact back home. In:
The peace and tranquility of Muir Woods, just north of San Francisco – home to 500+ acres of old-growth redwoods – make it just about the last place you'd expect to find a fight brewing. "The fact that they're taking down whole groups of signs about climate change and our nation's history is disappointing, and embarrassing," said retired U.S. Park Ranger Lucy Scott In:
We share our planet with maybe 10 million species of plants, animals, birds, fish, fungi and bugs. And to help identify them, millions of people are using a free phone app. "Currently we have about six million people using the platform every month," said Scott Loarie, the executive director of iNaturalist, a nonprofit.
Washington — As voters gear up for the midterm elections in November that will decide control of the House and Senate, the Supreme Court is set to weigh Monday whether states can count mail ballots that are postmarked by, but arrive after, Election Day.
It was in June 2020 when Linda Dane learned the disturbing circumstances of how her long-lost brother Gary Herbst's skull had been found by a dog in rural Barron County, Wisconsin. In:
A possible meteorite crashed into a Houston area house on Saturday night, tearing through the roof and two stories of the home, officials said. In:
The Senate on Saturday blocked an amendment that would ban transgender athletes from playing in women's sports, rejecting one of President Trump's priorities as he pressures Congress to act on a broad voting bill.
Robert Mueller, a former FBI director who led the investigation into allegations of Russian meddling in the 2016 election, has died, multiple sources told CBS News on Saturday. He was 81. In:
Kendra Duggar was arrested for misdemeanor charges including endangering the welfare of a child and false imprisonment, according to online records. The charges come a day after her husband Joseph Duggar was charged with molestation. In: