Senior citizens are getting a raise. Social Security will increase by 3.6% in 2012.
The government announced the cost of living adjustment Wednesday.
CNN Money reports the Cost of Living Adjustment (COLA) increase will be about a $39 a month.
Reuters reports this will impact approximately 55 million people.
Nancy Altman, the co-chair of the Strengthen Social Security Campaign, tells the USA Today that while the group is thrilled about the cost of living adjustment, it is still not enough to keep up with health care costs. The media outlet reports that many seniors rely on Social Security for more than 90% of their income.
What is your reaction to the Social Security increase? Tell us below.
