Social Security Increase Due to Inflation, Not Presidential Action

A deleted tweet from the White House and remarks by President Joe Biden could leave the false impression that Biden’s policies have something to do with an increase in Social Security payments. But the increase is set by law and is linked to inflation.

In remarks in Florida on Nov. 1, Biden repeated a boast about Medicare Part B premiums decreasing next year “for the first time in more than a decade.” As we’ve explained, that’s true, but misleading. The $5.20-per-month drop next year follows a larger increase the prior year that was partly due to anticipated Alzheimer’s drug expenses, which ended up not happening.

The president then immediately turned to Social Security. “And on my watch, for the first time in 10 years, seniors are getting an increase in their Social Security checks,” he said. “So, checks are going to be up and Medicare payments are going to be down.”

It may not have been clear to the audience, but what Biden meant was that “for the first time in 10 years” Social Security payments would increase while Part B premiums would decrease. He has made that point before. On Oct. 13, for instance, he said of seniors: “For the first time in 10 years, their Social Security checks will go up while their Medicare premiums go down.”

But Social Security payments have gone up every year except one over the past decade. And those increases had nothing to do with presidential actions.