Independent U.S. agency administering Social Security retirement, disability and survivor benefits
A new Empower analysis shows Americans’ net worth rises with age, reaching into the trillions for Silent and Baby Boomer generations. Younger generations trail, though 401(k) saving and IRA contributions are increasing. The shift signals a historic intergenerational wealth transfer that funds consumption and retirement across decades.
The government has released data showing July inflation easing to 3.4% year over year, with core inflation cooling to about 2.5%. Gas prices have fallen but are rising again, leaving the path ahead uncertain. Services costs continue to outpace headline trends, underscoring lingering price pressures as the economy navigates a fragile balance.
The US has passed $40 trillion in total public debt, the Treasury has reported, driven by large pandemic-era and recent spending and tax changes. Interest payments have risen sharply and are now a larger budget item than many programmes. Treasury officials argue growth can be managed by stronger economic growth and fiscal consolidation.
The Independent reports a proposed, ongoing plan to boost Social Security benefits for most current beneficiaries, alongside changes to how future COLAs are calculated. The plan, part of Sanders’s Social Security Expansion Act, would tax earnings above $250,000 and is described as a response to long-term insolvency concerns facing the program. No start date is set, as the measure remains a proposal awaiting congressional action.
The Postal Service’s plan to implement Trump-era mail ballot procedures has been temporarily halted by a federal judge and is being appealed. Whistleblower allegations describe a rushed setup that could disenfranchise voters if implemented before the midterms, with the Supreme Court weighing next steps.
Early voting has begun in multiple states as the federal government has pursued legal and investigative efforts to challenge mail voting and hunt for noncitizen voters. The Supreme Court has blocked new federal limits on mail ballots, states are sending millions of absentee ballots, and the DOJ and DHS have opened investigations and filed charges in several states.
Missouri remains under the 2022 map for November elections after the Supreme Court blocked changes and lower courts weigh conflicting rulings. Absentee voting is underway, with state courts holding hearings amid a nationwide redistricting push tied to midterms.
The Supreme Court has temporarily allowed the Department of Homeland Security to resume using the revamped SAVE database to verify voter citizenship, reversing a lower-court ban. Three liberal justices have dissented. Voting rights groups warn the system has flagged U.S. citizens and could lead to wrongful removals ahead of the Nov. 3 midterms.
The White House has announced a one-time $90 payment to about 20.8 million Medicare Part B enrollees, paid from the Medicare Improvement Fund. Most eligible beneficiaries will receive direct deposits in early October; others will get mailed checks later in the month. Millions of Medicare Advantage enrollees and those with Medicaid premium assistance or IRMAA surcharges are not eligible.
The Social Security Administration has announced a 3.6% cost‑of‑living adjustment for 2027, the largest in three years, with benefits across Social Security and SSI set to rise starting January. The adjustment is tied to CPI‑W data and will affect roughly 72‑73 million beneficiaries, though many say the increase won’t fully offset inflation.
The Treasury has reported that federal net interest costs for the 2026 fiscal year have reached about $1.05 trillion, making debt service the third-largest federal outlay and larger than defense. The fiscal deficit has widened to roughly $2 trillion for the year, driven largely by higher interest payments as Treasury yields have climbed.
Democrats allege federal interference aims to intimidate state officials and disenfranchise voters; the DOJ seeks to delay counting about 20,000 ballots amid noncitizen eligibility checks. California officials contest federal overreach; lawsuits have intensified as federal and state actors clash over voter list accuracy.
The 9th Circuit Court of Appeals has rejected the Justice Department’s bid to block California from counting ballots tied to a list alleging noncitizen voters ahead of the November midterms. California officials warn the move risks disenfranchising eligible voters while defending state safeguards against noncitizen voting. Multiple courts and outlets are monitoring ongoing legal battles as the election approaches.