In 2023, recipients of Social Security benefits, including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) saw a record Cost of Living Adjustment (COLA) of 8.7%. This was the largest increase in the COLA since 1981, a significant increase in the amount of money they received. However, economists are forecasting a much more modest increase of 3.1% this year, as economic conditions begin to settle.
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