There are certain things about Social Security that seniors ought to be grateful for. One is the fact that they can sign up to start getting benefits at any time once they turn 62. Another is that Social Security benefits are eligible for an automatic cost-of-living adjustment (COLA) each year.
There are plenty of seniors who collect Social Security for decades. Without annual COLAs, those benefits would no doubt lose buying power, making life very difficult for the seniors who rely on them for income.
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