Social Security increase doesn't add up for some - 13abc.com Toledo (OH) News, Weather and Sports

Tens of millions of Americans will get an increase in their monthly Social Security checks, but is it enough? The 1.7% hike is one of the smallest increases since 1975. On average it will mean an extra $21 a month, which adds up to just over $250 a year.

But the seniors we spoke with say that is not enough to cover their living expenses. Sally Snell worked as a nurse and a truck driver. She now spends some of her days at the Margaret Hunt Senior Center in Toledo and she says the numbers are puzzling,"They might give us an extra $21a month, but they turn around and take that money out in our food stamps. We're in our 60's and 70's and they're taking everything they can and that's wrong."

Sally is one of more than 56 million Americans who receive social security benefits. Like many older Americans Sally relies on Social Security for a majority of her income, "You should try living on $700 a month and paying your bills, your medical expenses and prescriptions."

Social Security payments for retired workers average $1,237 a month or $14,800 a year. The increase is based on annual inflation numbers. So despite the recent surge in gas prices, the 1.7% increase reflects relatively low inflation over the past year. Sally says it is just not enough, "We shouldn't have to struggle to live. We worked too many years and too hard to end up in the dumps like we are."

Other retirees here at the Margaret Hunt Center are also concerned. Robert Spenthoff and his wife live on a fixed income,"It's tough. I'll put it like this, it seems like every time our Social Security payment goes up, so does our rent. I don't mean to get upset, but it makes me nervous."

About 8 million people who receive supplemental Social Security income will also get the 1.7% increase, meaning about 1 in 5 Americans are affected. The increase takes effect in January. Since 1975 the annual cost of living adjustment has averaged 4.2 percent. It's only been below 2 percent 5 times, including 2 times when it was zero.