No Social Security Increase Expected in 2016

    If you get Social Security, you likely won’t be getting a raise next year.

    FOX News Radio’s Jared Halpern explains from Washington:

    It’s called COLA, a cost of living adjustment, it usually increases for recipients of Social Security, disabled veterans and federal retirees… but for just the third time in 40 years there is no increase next year.

    Economists point to low gas prices, a key factor in the Consumer Price Index that measures inflation and inflation has been so low this year that prices have dropped from a year ago.

    Congress tied Social Security increases to inflation in 1975… since then benefits have ticked up about four % a year on average.

    In Washington, Jared Halpern, FOX News Radio.

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