For all the work that’s been put into funding Social Security by hard-working Americans, it seems there should be more to show for it.

While the program continues to send payments out, seniors have had to fight hard to make sure that the Cost-of-Living Adjustment (COLA) they deserved was put into action.

But just because legislative action was pushed through doesn’t mean that everyone got the ideal resolution — some people look at the diminished purchasing power of Social Security and wonder if they really got a raise at all.

Will historians look back and say that 2022 was actually the year of both a record raise and a record drop in the buying power of benefits?

Is This Another COLA That Was Basically Skipped Over?

Some people say that despite the record 5.9 percent increase in Social Security, seniors really didn’t get much of a raise at all.

In their eyes, the 7.5 percent increase in the Consumer Price Index shows that the benefits have actually gone down in the grand scheme of things, at least in terms of their functionality.

We can campaign for higher benefits continuously, but unless those benefits can stay on par with or exceed rising prices, seniors are unfortunately losing out on the value they need.

Of course, we know that this isn’t the first year where seniors have felt ripped off. COLAs have been outright skipped in many prior years, resulting in a similar case as 2022 — seniors watched their benefits lag behind the prices they see in the grocery store, at the gas station, and everywhere else they spend money.

Has your purchasing power taken a hit? Are you frustrated that this record COLA didn’t seem to do much overall? How much worse do you think it will get? NORA wants to hear from you!

If you’re passionate about making yearly COLAs a tradition, pegged to inflation, and reimbursing seniors for years when COLAs have been skipped over, sign our petition — then follow us on Facebook and Twitter for more news about the state of Social Security benefits.