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Huge Pay Increase For Disabled Veterans
USVCP Staff Writers

May 5, 2022

           

With skyrocketing inflation, mounting transportation problems, and potential war on the horizon, the cost of living has increased tremendously.  More than any other groups dependent on government assistance, veterans in the United States are hurting the most.

      

According to several online sources, the average Social Security recipient has lost $162.60 in purchasing power and the average VA Disability recipient has lost $223.76 in purchasing power.  What that means for many veterans is the inability to maintain decent financial health in an ever increasing environment where goods and services continue to rise.

   

  

  

  

  

  

  

  

    

    

However, help is on the way.

 

The likely massive increase in VA disability benefits and Social Security benefits would be a direct response to sky-high inflation, which is also hitting levels not seen in over four decades. In March, the inflation rate surged to 8.5%, the highest level since December 1981, the Labor Department reported Tuesday. The increase was in large part due to the soaring costs of gas, groceries and vehicles.

The consumer price index release shows that prices over the past 12 months through March 2022 have risen by 8.5% — the largest 12-month increase since January 1982 and 1.2% from February to March 2022. This estimate includes some of the price jumps, especially in energy, due to Russia’s invasion of Ukraine.

       

    

  

  

  

  

  

  

  

  

  

The Senior Citizens League estimates the Social Security cost-of-living adjustment, or COLA, for 2023 could be as high as 8.9%. This would be the biggest COLA since 1981.  Since the Veterans Benefits Administration follows the same estimates as the Social Security Administration, disabled veterans will more than likely see the same increase in pay for 2023.

Add Comment

Ernest Cardona, 5/14/22

We keep hearing that help is on its way, yet the cost has been increasing. Tell us when will we see the increase? The cost of fuel has not lowered in California, yet the lies keep coming.

         

Normand Powell, 5/5/22

We need all help we can get, Thank you so much!!!

        

Charles A. Rogers, 5/5/22

That will be a nice increase and well-appreciated. However, the financial impact is now and going forward, not nine months from now. Take some of that money that we are sending overseas and give the Vets a raise now, retroactive to January 1, 2022, and not wait until next year.

        

Miriam Keedy, 5/5/22

It is good that raises are going up for Veterans, but what about the dead Vets who left behind bills to pay like a big mortgage? They are left behind and forgotten? I love to know that the wounded living Vets are getting lovely homes, but the Wives of the forgotten are left behind with a big mortgage bill to pay also, how can they be helped?

        

Mario A. Baray, 5/5/22

Greatly appreciated and badly needed, so yes, thank you every little bit helps.

       

Joseph Lewis, 5/5/22

I welcome the raise of 8.9% it will help in this high inflation pandemic.

      

Frank Aims, 5/6/22

I'll believe it when I see it.