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Retirees must love Biden

AzogtheDefiler

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  • Record gas prices
  • Increased food costs
  • Stock market crashing (401Ks impacted)

Many live on a fixed income

Let's Go Brandon!


1653064947911.png
 

rightwinger

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  • Record gas prices
  • Increased food costs
  • Stock market crashing (401Ks impacted)

Many live on a fixed income

Let's Go Brandon!


View attachment 647310
5.9 percent Cost of Living Adjustment
Projected 8 percent next year

Record Real Estate prices
 
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AzogtheDefiler

AzogtheDefiler

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5.9 percent Cost of Living Adjustment
Projected 8 percent next year

Record Real Estate prices
Real Estate prices are dropping big guy and those on a fixed income how do they afford higher fuel and food costs?
 

Stryder50

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Retirees Are Poised to See the Biggest Social Security Change in 41 Years​

- EXCERPTS -
...
In 2023, retirees on Social Security are likely going to experience something that no senior has in 41 years. The cost of living adjustment (COLA) they are on track to receive would result in the largest benefit increase in more than four decades.

This change sounds positive for older Americans, but in fact that's not the case at all. To understand why, it's helpful to know the reason this change will occur next year.
...
In 2023, retirees are likely to see a huge increase in their monthly checks.

According to the Senior Citizens League, seniors could get an 8.6% benefits increase next year. This would take effect in January 2023. It means that a retiree who is getting the average monthly benefit of $1,657 this year would see their payment increase by $142.50 per month, or $1,710 per year.

This would be the largest increase to monthly Social Security benefits since 1981, when Americans received an 11.2% raise. And it far surpasses the raises seniors received in recent years, which ranged from 0% in 2016 to 5.9% in 2022.
...

Here's why this change isn't good news for seniors​

It may seem like great news that seniors are getting the biggest benefits increase in more than four decades. But the reality is that it's not a good thing for seniors or for anyone else.

See, the COLA is calculated each year based on the consumer price index, which shows how prices have increased from year to year. In other words, it's based on inflation, so a big raise means the costs of goods and services have gone up dramatically. So while retirees will get more money on paper, they won't enjoy any more buying power with their bigger checks. In fact, their money isn't likely to go as far for two key reasons.

The first big issue is that Social Security raises have not accurately kept pace with the actual increase in spending older Americans have experienced over time due to the way the COLA formula is structured. The shortfall is substantial, with the Senior Citizens League estimating that benefits have lost 40% of their buying power since 2000.

The second issue is that most older Americans rely both on Social Security and savings to help them make ends meet. And inflation hits savers hard, as the buying power of seniors' invested funds will also decline when prices go up. Since seniors typically need to be invested conservatively to avoid undue risk of loss, their returns may not be high enough to avoid losing substantial ground when inflation is surging so much.
...
 

Stryder50

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Real Estate prices are dropping big guy and those on a fixed income how do they afford higher fuel and food costs?
Depends where one lives it might seem.
Out here in the PNW, they are skyrocketing. Might be great if one sells, but for an increasing part of the population, buying real estate is rapidly out stripping their incomes, and projected increases of incomes.
Similar skyrocketing of rental costs/rates.
 

bodecea

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  • Record gas prices
  • Increased food costs
  • Stock market crashing (401Ks impacted)

Many live on a fixed income

Let's Go Brandon!


View attachment 647310
It is what it is.....

Con-nect the dots for us how this is Biden's doing and what he can do to fix it (but isn't).
 

The Original Tree

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  • Record gas prices
  • Increased food costs
  • Stock market crashing (401Ks impacted)

Many live on a fixed income

Let's Go Brandon!


View attachment 647310
Joe's 401K crash is entirely caused by Joe Biden and his globalist handlers. One has to wonder if anyone will be able to retire at all after his term is over or be able to even find Baby Formula.

1653068171259.png
 

bendog

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5.9 percent Cost of Living Adjustment
Projected 8 percent next year

Record Real Estate prices
The thread's just "look at me, my team's better than yours"

Biden and the dems didn't actually cause the inflation we're having. Team Biden didn't see it coming but neither did the Fed. But the progressives are just economic illiterates who want the econ to fit their policy desires.

President's don't really get to choose their economies. Their policies usually affect things 4 years out, and the next administration though. I wish Biden was being more aggressive on issuing oil leases with penalties for not drilling in a few years of their being issued, though.
 

rightwinger

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Real Estate prices are dropping big guy and those on a fixed income how do they afford higher fuel and food costs?

Its all relative..

I’m retired

Things like 401k and Real Estate are wealth
My 401k is down about $70k…..OUCH
My homes are up about $220k…..CHEERS

Pension and SS are income
My pension and SS went up $550 a month in Jan…..CHEERS
Gas, food, restaurants increases ate up most of that….OUCH

In total, I am slightly better off since January
 

Stryder50

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It is what it is.....

Con-nect the dots for us how this is Biden's doing and what he can do to fix it (but isn't).
Groper Joe has shut down any new explore and development of domestic petroleum and carbon fuel resources.
Brandon has also presented the largest Federal Deficit to date with his 'unmake America' agenda.
Joe has also allowed for more money to be printed = inflation and devalue of currency.
He's just starting on the list of his 'degenerate USA and make it a second world nation' agenda.
 
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AzogtheDefiler

AzogtheDefiler

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It is what it is.....

Con-nect the dots for us how this is Biden's doing and what he can do to fix it (but isn't).
Is what it is? LOL

Thank you for that great take, Ms. Menopause.

1653068399868.png
 
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AzogtheDefiler

AzogtheDefiler

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Its all relative..

I’m retired

Things like 401k and Real Estate are wealth
My 401k is down about $70k…..OUCH
My homes are up about $220k…..CHEERS

Pension and SS are income
My pension and SS went up $550 a month in Jan…..CHEERS
Gas, food, restaurants increases ate up most of that….OUCH

In total, I am slightly better off since January
Are you better than you were in January 2019?
 

Turtlesoup

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5.9 percent Cost of Living Adjustment
Projected 8 percent next year

Record Real Estate prices
Record Real Estate prices hurt the elderly hon...it raises property tax and money needed to do repairs to homes-

don't even get me started on those who rent instead of own including those in mobile homes parks..

5.9 % cost of living adjustment----reported inflation what 8.2 or 8.3 % which is a bullshit number must everything is atleast 1/3 more.

And right still tries to spin shit. Hun, the elderly are fucking hurting. It's the 1970's again, which I remember for the stories on tv about the elderly having to eat pet food to survive.
 

bendog

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Groper Joe has shut down any new explore and development of domestic petroleum and carbon fuel resources.
Brandon has also presented the largest Federal Deficit to date with his 'unmake America' agenda.
Joe has also allowed for more money to be printed = inflation and devalue of currency.
He's just starting on the list of his 'degenerate USA and make it a second world nation' agenda.
Hold yer horses there, pardner. Trump's the King of Debt

 
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AzogtheDefiler

AzogtheDefiler

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Record Real Estate prices hurt the elderly hon...it raises property tax and money needed to do repairs to homes-

don't even get me started on those who rent instead of own including those in mobile homes parks..

5.9 % cost of living adjustment----reported inflation what 8.2 or 8.3 % which is a bullshit number must everything is atleast 1/3 more.

And right still tries to spin shit. Hun, the elderly are fucking hurting. It's the 1970's again, which I remember for the stories on tv about the elderly having to eat pet food to survive.
Gas is 120% more and what about those on a fixed income who rent? rightwinger could not care less about them.
 

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