LANSING, Mich. (Michigan News Source) – About 2 million Social Security and SSI beneficiaries in Michigan are set to see a 3.2% cost-of-living adjustment (COLA) in 2025, translating to an average increase of about $50 per month starting in January. While any extra income is appreciated, many seniors on fixed incomes argue that the increase barely offsets the relentless rise in living costs seen over the past four years under the Biden-Harris economy.

Inflation takes a bite out of benefits.

Despite any promised increase, seniors anticipate that they will continue to struggle with higher prices on everyday essentials. Groceries, utilities, and gas have all climbed steadily in the past four years under the Biden presidency, leaving many retirees questioning how far an extra $50 will stretch.

MORE NEWS: Dysfunction Junction: Michigan Democrats Fail Constituents, House Adjourns Until New Year’s Eve

Folks on X were quick to ridicule the small increase:

Seniors have to keep working.

Because of economic hardship, a growing number of seniors relying on Social Security find themselves unable to retire comfortably – or even retire at all. Faced with the rising cost of living, they are forced to remain in the workforce, taking on part-time or even full-time jobs to make ends meet and maintain their basic standard of living.

With the U.S. entering “Peak 65” starting this year, a demographic milestone marked by a record number of people turning 65, a LendingTree analysis of U.S. Census Bureau data reveals that more than one in five Americans aged 65 and older are still in the workforce. Among them, roughly 25% are self-employed, 50% work in private companies, and 10% are employed by the government. Meanwhile, the percentage of people identifying as retired dipped slightly, from 16.8% in March 2022 to 16.2% in March 2024.

MORE NEWS: Challenges Facing Michigan Animal Shelters and How They’re Responding

Matt Schulz, LendingTree’s chief credit analyst, says, “Inflation is driving costs through the roof. People haven’t saved enough to be comfortable with retiring, and their debts are too high.”

Medicare costs going up.

To make matters worse, rising Medicare premiums threaten to eat into the COLA adjustment. With premiums for Part B expected to increase by approximately $10 per month, some beneficiaries may see much of their Social Security raise redirected to healthcare expenses, leaving little room for relief elsewhere. This increase was hidden by the Biden-Harris administration during the election by subsidizing the increases until the first of the year.

Bidenomics adds pressure to fixed incomes.

Under the Biden-Harris administration, seniors have felt a substantial financial pinch. Inflation has eroded purchasing power, making it harder for those reliant on Social Security to make ends meet. The modest COLA highlights the growing disconnect between federal policies and the everyday realities faced by retirees.

Since VP Kamala Harris lost the presidential election to Donald Trump, the Biden-Harris administration has been actively pushing billions of dollars out the door for everything from climate change to Ukraine – but needy Americans, especially seniors, seem to be the last ones on their mind.

As we find ourselves in the heart of the Christmas season, things still aren’t improving. According to the Consumer Price Index, released recently by the U.S. Bureau of Labor Statistics, grocery prices rose again – this time it was a 0.4% increase. Egg prices saw a sharp increase, climbing 8.2% over the past month and a staggering 37.5% in the last year, posing challenges for those relying on eggs as an affordable protein and for families preparing holiday staples like sugar cookies.

David Ortega, a food economist at Michigan State University says that although the increase in food prices has moderated a bit from past years, they are still more than 20% higher than they were before the pandemic. He told the Missouri Independent, “It was a key issue in the election in terms of people really feeling that sticker shock at the grocery store.”

And no one feels that shock more than seniors living on a fixed income. For these older adults, the disconnect between modest Social Security increases and relentless inflation feels insurmountable. As the Biden-Harris administration pours billions into initiatives abroad and domestic climate programs, many seniors are left wondering when their struggles will take priority – and many are hoping, with optimistic thoughts, that it will happen after January 20th when Trump returns to the White House.