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The Social Security Administration announced on Thursday an 8.7 percent increase in benefit checks for seniors starting next year, a response to the fastest inflation America has seen in four decades. The change will affect about 70.3 million Social Security beneficiaries, including roughly 8 million Supplemental Security Income recipients. The adjustment is expected to increase monthly Social Security checks by about $150 per month on average. (Stein, 10/13)

The cost-of living adjustment means the average recipient will receive more than $140 extra a month beginning in January, according to estimates released Thursday by the Social Security Administration. The boost in benefits will be coupled with a 3% drop in Medicare Part B premiums, meaning retirees will get the full impact of the jump in Social Security benefits. (Hussein, 10/13)

Social Security -- long referred to as the "third rail" of American politics -- so charged as to be fatal if touched -- is back in the spotlight as the midterm elections near. President Joe Biden has made it a key campaign theme -- repeatedly asserting the benefit program is "on the chopping block" if Republicans win back control of the House and Senate. (Hutzler, 10/13)