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Make Me Smart

How Social Security deals with inflation

Make Me Smart

Marketplace

News, Business

4.65.4K Ratings

🗓️ 15 July 2022

⏱️ 13 minutes

🧾️ Download transcript

Summary

The Social Security Administration is debating how much to increase payments in 2023 due to inflation, and the boost could be the biggest since the ’80s. We’ll explain the obscure measure it uses to calculate its annual cost-of-living increase. Plus, taking the ferry in New York City is about to get more affordable for some riders. And, Worldle meets board games!

Here’s everything we talked about today:

Join Kimberly and Kai tomorrow for Economics on Tap. We’ll be livestreaming on YouTube starting at 6:30 p.m. ET/3:30 p.m. PT.

Transcript

Click on a timestamp to play from that location

0:00.0

Yeah, here we go. We're ready. We got this.

0:07.0

Just in time.

0:09.0

Yeah.

0:11.0

I'm Kimberly Adams. Welcome back to Make Me Smart.

0:14.0

Where we make today makes sense. Hey everybody.

0:17.0

Hey, and I made me Scott in for Kai Ristall.

0:20.0

Thanks for joining us. It is Thursday, so we're going to get smarter about the news and hopefully make you smile by the end of this.

0:27.0

So with that, let's do the news fix.

0:30.0

What you got, Kimberly. Hey, you go.

0:32.0

Okay, I'll go first.

0:33.0

I saw the story in the New York Times today that just, you know, I think it's a good thing for people to read.

0:42.0

The New York Times has these focus groups where they, you know, just talk to different people about their feelings on controversial news topics.

0:50.0

And so in this case, they talk to 12 pro-life voters and ask them amongst many other things how they feel about people who disagree with them.

1:03.0

And I feel like on the issue of abortion, people get so caught up in their own echo chambers and only talking to people who think how they think about a topic that it's hard to see.

1:19.0

Where other people are coming from. Now, I am not saying that I should like both sides reproductive rights and, you know, the, you know, autonomy over people's bodies and things like that.

1:30.0

But what I am saying is that if you can't even hear what the other person has to say and you don't even understand where their arguments are coming from, then there's no way to bridge the gap.

1:43.0

And it's just very thoughtful and they do also have interviews with pro-choice voters and they say the 10 pro-choice voters are angry and they have thoughts on who to blame for the end of row.

1:54.0

And so just hearing from these folks about the nuanced views that I think so many people have about abortion is really valuable as this debate has been going on since the draft document was leaked.

2:10.0

You know, I just, I've been really astonished to hear how many people in my own life have had an abortion that I didn't know about that are just now feeling comfortable talking about it.

2:23.0

And many of them still believe abortion is wrong. And both of those things can exist in the same place and in the same way. And I think all of us have to kind of lean into the nuance with some kindness and care to move through this debate.

2:39.0

What I thought was interesting also was some of the lack of information or just lack of understanding about the reality of abortion, you know, they were asking is abortion more dangerous than childbirth and some people thought it was, which is not true in terms of risk to a woman's health.

3:02.0

And the lack of understanding about medication abortion and, you know, how common it is for abortions to happen after the first trimester, which it's quite rare.

...

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