The White House deleted a tweet bragging about the 8.7 percent cost of living increase for Social Security recipients for 2023 after a fact check was added by Twitter noting the COLA was mandated by a 50-year-old federal law that payments keep up with inflation, making Biden’s boast a self-own highlighting roaring inflation that took off after he took the White House in January 2021.
Seniors are getting the biggest increase in their Social Security checks in 10 years through President Biden’s leadership.
— The White House (@WhiteHouse) November 1, 2022
Screen image via Marketwatch.
This take was too much even for CNN fact checker Daniel Dale who issued a rare Biden factcheck, “That’s quite the spin. The size of Social Security checks is linked, by law, to inflation ( https://ssa.gov/cola/#:~:text=Beginning%20in%201975%2C%20Social%20Security,value%20from%20Social%20Security%20benefits). This year’s increase is unusually big because the inflation rate is unusually big.”
That’s quite the spin. The size of Social Security checks is linked, by law, to inflation (https://t.co/InySftYUDM). This year’s increase is unusually big because the inflation rate is unusually big. https://t.co/cRO83KIsHW
— Daniel Dale (@ddale8) November 2, 2022
Dale also called out Biden for a lie about the increase made in remarks Tuesday, “Biden falsely said today, “On my watch, for the first time in 10 years, seniors are getting an increase in their Social Security checks.” There was an increase (again, tied to inflation!) every year of Trump’s term. Biden has previously done a correct version of this claim -saying it’s the first time in a decade that Social Security checks are up at the same time as Medicare premiums are down. But today’s solo claim that this is the first Social Security increase in 10 years is wrong, even if you ignore that the increases are about inflation.”
saying it's the first time in a decade that Social Security checks are up at the same time as Medicare premiums are down. But today's solo claim that this is the first Social Security increase in 10 years is wrong, even if you ignore that the increases are about inflation.
— Daniel Dale (@ddale8) November 2, 2022
Chief Twit Elon Musk commented on the Twitter fact check added to the White House tweet, “The community notes feature is awesome. Our goal is to make Twitter the most accurate source of information on Earth, without regard to political affiliation.”
The community notes feature is awesome.
Our goal is to make Twitter the most accurate source of information on Earth, without regard to political affiliation.
— Elon Musk (@elonmusk) November 2, 2022
Excerpt from the announcement by the Social Security Administration issued October 13:
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social Security benefits will increase by more than $140 per month starting in January.
The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. (Note: some people receive both Social Security and SSI benefits). The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.
“Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room. This year’s substantial Social Security cost-of-living adjustment is the first time in over a decade that Medicare premiums are not rising and shows that we can provide more support to older Americans who count on the benefits they have earned,” Acting Commissioner Kilolo Kijakazi said.
…Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200 from $147,000.