A president does not decide such things.
Whatever the annual increase in Consumer Price Index is there are COLAS. Cost-of-living adjustment.
In other words the more it costs to live the higher the social security increase will be.
So it's an attempt at trying offset your cost.
It things are way lots loads more expensive your social security bump will be higher.
If costs are fairly stable it will be lower. DUH!
Which do you want? To have to pay more through the nose due to an ever-costlier cost of living or have costs be stable in which case your increase won't be as much?
Your choice. It evens out you see. You pay more yo et more you pay less you get less. Any questions?
Getting a huge increase in social security benefits is not a feather in the hat of the president. It is quite the opposite. It means under his watch you are having a harder time existing from paycheck to paycheck.
The COLA increase in social security for 2020 will be 1.6%.
