Trustees reported that they expect Social Security's cost-of-living-adjustment (COLA) increase to be 0.2% next year.
That minuscule amount — which equals a whopping $2 more for someone getting a $1,000 monthly check — would come after retirees got no increase in Social Security benefits in 2016 for the third time in four decades.
But a next-to-nothing COLA for retirees isn’t stopping President Obama from giving himself and other past presidents a pay boost …
The White House budget for fiscal 2017 seeks $3.87 million in benefits for former presidents and their spouses. That would mark an 18% increase from the prior year.
Something to keep in mind as Election Day draws close.