Depending on Congress to make required funding adjustments and at the appropriate time to maintain Social Security solvency and sustainability is foolish-as has been demonstrated for decades.
The COLA was made automatic 1972. The first automatic COLA check was paid out in July 1975 at an 8.0% increase. Starting in 1983, the payout timing was shifted to January check cycles (reflecting third-quarter CPI data from the prior year), which remains the system used today.
It’s time to automatically keep Social Security sustainable without politicians.
Changes to the Social Security law (benefit formal, etc.) would still require Congressional action. It also means that any benefit improvements passed by Congress would automatically be funded- higher taxes.
