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Important - July, August & September for Social Security SSDI & SSI VA |4th Stimulus Check Update - YouTube
Channel: MOSTLY MONEY TV
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all right guys when it comes to聽
what's going on in politics today聽聽
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july august and september are critical months聽
when it comes to the social security cost of聽聽
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living increase for 2022. we're going to talk聽
about that with a little bit more details because聽聽
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many of you are going to be receiving quite a聽
bit of money in 2022. also we're going to talk聽聽
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about the next round of stimulus negotiation聽
bottom line are we going to receive a stimulus聽聽
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check or not that's the question that we're聽
going to try to answer here on mostly money
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well my name is andre you're watching mostly聽
money where you gonna get all facts no fake no聽聽
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phony and no fluffed up information when it comes聽
to what's going on with the stimulus negotiations聽聽
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and politics today and if you're interested in聽
getting this information getting the truth on a聽聽
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daily basis well you made it to the right channel聽
all you need to do for yourself now is subscribe聽聽
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click that bell notification so you get the latest聽
and greatest information coming for mostly money聽聽
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because we're going to always be here for you and聽
your loved ones july august and september are the聽聽
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months in which they use to calculate the cost聽
of living increase that individuals are looking聽聽
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forward to during january of this year all you聽
receive if you were on social security ssi ssdi聽聽
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all you received at that time period was a 1.3聽
cost of living adjustment or increase which was聽聽
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little next to nothing especially after dealing聽
with a pandemic that started in 2020 but now聽聽
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individuals can look forward to a lot more聽
than just 1.3 because the rate of inflation聽聽
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was still going up as well it's your money and聽
it's not your imagination it's costing you more聽聽
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to live the labor department reported the cost of聽
living is more than 5 percent higher than it was聽聽
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this time last year cbs 4's alice gainer takes a聽
look at which products are getting more expensive聽聽
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filling up at the pump remains pricey聽
especially for drivers with long commutes聽聽
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i'm having to put 30 or 40 dollars in聽
my tank every other day that's a lot聽聽
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a new government report says gas is up 41 percent聽
compared to last year fueling a rise in overall聽聽
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prices including food the cost of eating out in聽
july saw its biggest one month surge in 40 years聽聽
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and shoppers are spending more at the grocery聽
store beef and veal jumped six and a half percent聽聽
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in the past year pork products increased nearly聽
eight percent and whole milk rose eight percent聽聽
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a lot of these prices have definitely gone up and聽
that has catherine karkimo changing her shopping聽聽
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habits maybe like a brand that you usually don't聽
buy or maybe like smaller there is a little bit of聽聽
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good news even though prices are going up they're聽
not rising as fast as previous months used car聽聽
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prices slowed last month after soaring for most聽
of the year airline tickets declined a little from聽聽
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the previous month but are still up 19 percent聽
over last year those increases that we've seen聽聽
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continue to put a squeeze on the household budget聽
bank rates greg mcbride says it's not clear how聽聽
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long the current increases will continue we won't聽
know until probably early part of 2022 with any聽聽
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clarity whether or not inflation was just passing聽
through town or whether those higher numbers are聽聽
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here to stay for a while pandemic related supply聽
chain issues are one factor influencing costs聽聽
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once those stabilize economists believe prices聽
could too alice gainer cbs news new york and聽聽
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one bright spot in the report is prices for fruits聽
and vegetables are down slightly in the past month聽聽
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now remember what i mentioned before july august聽
and september those are the months in which they聽聽
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do most of the calculating for the cost of living聽
adjustment so in october when they make the聽聽
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announcement for what the cost of living increase聽
will be it'll be because of these three critical聽聽
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months and we're going to talk about these months聽
as time progressed and you'll get a chance to know聽聽
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how much is increasing by each month聽
last month in july it was a 5.4 percent聽聽
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kind of funny that it was the same amount聽
of the rate of inflation that's right now聽聽
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however this month it is 6.2 percent and we聽
don't know what is going to be in the month聽聽
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of september but so far everything is looking like聽
it's going to be moving forward for a huge amount聽聽
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some additional financial relief may聽
be coming to 69 million americans who聽聽
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collect social security advocacy groups project聽
that they are on track to get a 6.1 percent聽聽
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cost of living adjustment the biggest increase聽
since 1983 and it comes as a pandemic restrictions聽聽
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ease causing a jump in inflation with prices聽
rising for everything from gasoline to groceries聽聽
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so cbs money watch reporter amy peaky wrote聽
an article about the possible cost of living聽聽
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hike and joins me now to talk a little bit聽
more about this so listen amy can you expand聽聽
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on why this uh cost of living increase is聽
so large uh compared to the 2021 adjustment聽聽
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yeah it all boils down to inflation um i think聽
everybody's aware that things cost more this year聽聽
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groceries are up cars are more expensive gas of聽
course when you go to the gas station it's a lot聽聽
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more expensive this year to fill up your tank聽
than it was last year and the social security聽聽
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administration uses the inflation figures to聽
determine the annual cost of living uh bump聽聽
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um that it will put into checks on the following聽
year so that means that their the social security聽聽
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administration is is tracking inflation and聽
looking at these numbers and they'll decide you聽聽
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know based on the inflation this year what seniors聽
will see in their checks next year and right now聽聽
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they're projecting or not they but advocates聽
are projecting uh given inflation so far this聽聽
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year it's going to be 6.1 percent oh that's a lot聽
bigger um so when could beneficiaries actually see聽聽
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this money and is there a possibility that the聽
percentage could fluctuate before they actually聽聽
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get the cash yeah great questions um the increase聽
will come into effect in january's checks and then聽聽
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that will be an in effect for the rest of the聽
year um the decision won't be made until october聽聽
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so there is there is a possibility that it could聽
come in lower than this or even higher if for聽聽
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instance inflation actually increases throughout聽
the summer now let's talk about the progress or聽聽
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the lack thereof when it comes to the fourth聽
round of stimulus negotiations we hear that聽聽
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there may be something put into the infrastructure聽
bill or something may be done separately to give聽聽
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another or fourth check to individuals nationwide聽
they've already given out with a third check 160聽聽
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million payments to individuals yet we all know聽
that that was not enough the petition has already聽聽
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gone out asking for two thousand dollar stimulus聽
reoccurring checks or even a two thousand dollar聽聽
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stimulus check would be great to help a lot of聽
people out toward the rest of this year however we聽聽
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haven't heard anything quite yet because you have聽
the president and congress right now focusing on聽聽
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a two infrastructure bills in which they need聽
to pass the american family plan as well as the聽聽
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american rescue plan b the mess that president聽
biden and his administration including part of聽聽
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what the trump administration has done with聽
afghanistan both administrations actually聽聽
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dropped the ball not just one and so now the mess聽
needs to be cleaned up over there the next thing聽聽
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is they're dealing with the delta variance of聽
the virus and that's another distraction and also聽聽
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the eviction moratorium which just recently聽
had been rejected by the supreme court so with聽聽
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all these things entangled in the same web we聽
all know that we are in need of a fourth round聽聽
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of stimulus the question is when and if it's going聽
to happen so we're going to keep you guys posted聽聽
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however if you see any youtubers giving you false聽
titles saying that it's passed or look at this the聽聽
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stimulus bill is is coming forth it's not let's be聽
patient even though we had let's be real about it聽聽
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let's be honest with ourselves in regards to when聽
it's going to take place and how it's going to聽聽
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take place there's new evidence the economic聽
recovery is uneven at best 385 000 americans聽聽
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filed for unemployment benefits last week millions聽
more will see their extended pandemic benefits聽聽
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run out by labor day cbs's mark strassman has one聽
family's struggle what if we have to be homeless聽聽
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what are we going to do with the聽
kids erin white's family of six聽聽
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had a lifeline iowa cut it there's daily聽
breakdowns it's not every once in a while聽聽
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at 38 her health has broken down severe asthma聽
pulmonary hypertension and unidentified autoimmune聽聽
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disorder she and her husband john worked at a call聽
center combined income sixty thousand dollars last聽聽
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april they were fired after following her聽
doctor's recommendation to quarantine due聽聽
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to her underlying condition it was a very hard聽
thing to accept that that wasn't my job anymore聽聽
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and that this was my new reality in working class聽
keokuk iowa the unemployment rate almost seven聽聽
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percent higher than the statewide average on june聽
12th governor kim reynolds cut off washington's聽聽
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federal pandemic relief for the state's jobless聽
the message to nearly 25 thousand iowans go聽聽
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find a job and the money went away quick and we聽
started to get the taste of losing everything then聽聽
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the repo man came for their van they're聽
three months behind on rent we're losing聽聽
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everything we're failing i want to help my family聽
there's a lot of us and it takes a lot of money
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you know and i want to be able to help them and聽
i feel like i can't i don't have that control聽聽
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across the mississippi the whites can see illinois聽
their governor still allows them to have the聽聽
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pandemic benefits lost in our recovering economy聽
millions of americans still need help and the sad聽聽
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part is this congress seems to be focusing聽
on everything and everyone except you well聽聽
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my name is andrea mostly money and i'm here聽
to give you all facts no fake no phony and no聽聽
[654]
fluffed up information when it comes to stimulus聽
negotiations and what's going on in politics today聽聽
[660]
and if you're interested in always getting the聽
truth on a daily basis where you've made it to聽聽
[664]
the right channel all you need to do is subscribe聽
click that bell notification so i can give you the聽聽
[670]
greatest and latest information coming for mostly聽
money because we're gonna always be here for you聽聽
[675]
and your loved ones now i'm not gonna go get聽
a cup of coffee i'm going straight into the聽聽
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comment section and if i don't get a chance聽
to speak to you and you don't get a chance聽聽
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to speak to me we're not gonna fret about it oh聽
no because you'll be here for me again mayana
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