14.5% Increase in Medicare Premiums Will Wipe Out 5.7% Gains in Social Security For Seniors

[bendog]

It's still inflation though, and not the 2% kind. It's not good for retirees.

 

[Care4all]

It's still inflation though, and not the 2% kind. It's not good for retirees.

Yep! It's not!

If the fed were to raise interest rates to combat inflation, that could help their retirement savings, perhaps....? But I heard economic analysts say the fed is unlikely to take drastic steps because they believe this inflation is temporary, with no reason to believe we will have the same problems a year from now???

They don't believe the infrastructure bill(s) will cause higher inflation because most of the bill amount will be spent over 10 years and not right a way, all at once.....?? Or something like that??

 

[bendog]

Yep! It's not!

If the fed were to raise interest rates to combat inflation, that could help their retirement savings, perhaps....? But I heard economic analysts say the fed is unlikely to take drastic steps because they believe this inflation is temporary, with no reason to believe we will have the same problems a year from now???

They don't believe the infrastructure bill(s) will cause higher inflation because most of the bill amount will be spent over 10 years and not right a way, all at once.....?? Or something like that??

I don't think the infrastructure bill is inflationary either. But we do have inflation. And the dems last stimulus bill did encourage staying home. I'm not sure how transitory the inflation is because we are doing NOTHING to eliminate shipping bottlenecks or getting more longshoremen and truckdrivers. It's not all Biden's fault, but he wasn't exactly Joey on the Spot either.

But the colas for soc sec don't really keep oldsters even. the way they're calculated leaves them buying "substitute goods." But yes, if they are getting money through bond like investments higher rates can help them, even while they cost jobs. In the 80s my Dad had his house paid for and CD's. And unemployment went over 10% for other guys.

 

[CrusaderFrank]

I'm not saying it's not. I just think a source like that is garbage and that a person should do better when making threads. The source does matter.

just stfu

 

[BlindBoo]

He can, with executive orders, have some impact. Biden eliminated 11000 jobs by closing the XL pipeline and others by banning oil drilling on Fed lands. This increased unemployment and raised oil prices.

"The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year, according to an Associated Press analysis of government data. That includes more than 2,100 drilling approvals since Biden took office January 20.

New Mexico and Wyoming had the largest number of approvals. Montana, Colorado and Utah had hundreds each."

 

[WEATHER53]

Well you know hard workers who put tens of thousands of dollars into the pot over 30-40. Must take a virtue signaling back seat to the noble government dependents, virtuous deadbeats, and illegals who contributed Zero but want the pie.
After us thinkers clear out this Covid crap our next step will be ending the incessant pilfering of the things we Already Paid for.

 

[Care4all]

I don't think the infrastructure bill is inflationary either. But we do have inflation. And the dems last stimulus bill did encourage staying home. I'm not sure how transitory the inflation is because we are doing NOTHING to eliminate shipping bottlenecks or getting more longshoremen and truckdrivers. It's not all Biden's fault, but he wasn't exactly Joey on the Spot either.

But the colas for soc sec don't really keep oldsters even. the way they're calculated leaves them buying "substitute goods." But yes, if they are getting money through bond like investments higher rates can help them, even while they cost jobs. In the 80s my Dad had his house paid for and CD's. And unemployment went over 10% for other guys.

During that time in the 80s, my parents started with about $150,000 in retirement savings and 10 years later through investing in high rate CDs, and compounded interest, came out of that high inflationary period with a million bucks!! Mom handled it all, finding high rate CDs to invest in, some paying 17% and even 20% interest!!!!!

Once our government started to spend, then borrow from foreigners, the govt no longer needed to borrow from us Americans for their over spending....interest rates dropped....

For me, I bought my first town home in the 80s, and the interest rate was 13% on my mortgage! ouch!

 

[Care4all]

I don't think the infrastructure bill is inflationary either. But we do have inflation. And the dems last stimulus bill did encourage staying home. I'm not sure how transitory the inflation is because we are doing NOTHING to eliminate shipping bottlenecks or getting more longshoremen and truckdrivers. It's not all Biden's fault, but he wasn't exactly Joey on the Spot either.

But the colas for soc sec don't really keep oldsters even. the way they're calculated leaves them buying "substitute goods." But yes, if they are getting money through bond like investments higher rates can help them, even while they cost jobs. In the 80s my Dad had his house paid for and CD's. And unemployment went over 10% for other guys.

fyi ...More goods are moving through our ports than In previous covid times, on the west coast....that's been the case for a few months....

The backlog is extra goods, on top of the port's normal loads......I didn't know that but just read it or saw it, on the news.... I had thought goods were struggling to even dock but that wasn't the case...

 

[Lisa558]

So the average SS recipient, barely getting by, gets a net increase of $60 a month, and a young family gets $900 a month.

That’s socialism: very little value placed on senior citizens, who after a life of work and contribution, no longer have a purpose working for the state - while tons of money is found for parents raising future workers.

Granny: $60
Mother with husband bringing in $70,000: $900

 

[Harpy Eagle]

That’s socialism: very little value placed on senior citizens, who after a life of work and contribution, no longer have a purpose working for the state - while tons of money is found for parents raising future workers.

Sounds far more like capitalism than socialism.