More than 70 million Social Security recipients are awaiting news of their cost-of-living increase for 2025, with analysts predicting a 2.5% raise, lower than previous years. The increase reflects moderating inflation, but retirees are concerned it may not be enough to cover rising costs. The Social Security program faces financial challenges, with the trust fund projected to be unable to pay full benefits by 2035. Presidential candidates Kamala Harris and Donald Trump have differing plans to strengthen Social Security, with Harris proposing taxing millionaires and billionaires, while Trump promises no cuts to the program.
