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Biscuit (Noun) : A person who is willfully ignorant and almost certainly incompetent

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Good News! Wait, It’s Not.

The morons that run the US congress do a lot stupid things when they are trying to get laws passed. Often the compromises that are made to secure votes end up with unintended consequences.

One of those is tying the social security annual cost of living to US inflation gauges. Well, loosely tying them that is, and when Biden and the Democrats are in charge and we’re paying $3.29 for gas (at least that’s what I paid today) you get what you’d expect – a fucking mess.

Social Security’s cost-of-living adjustment (COLA), which is calculated each year by using the Consumer Price Index for Urban Wage Earners and Clerical Workers, will make the calculation for 2022 based on data through the third quarter, according to CNBC. AARP also noted that the Social Security Administration typically announces the amount of the annual adjustment in October. The increase in benefits typically goes into effect in January.

While a 6% increase may seem substantial, it doesn’t necessarily mean a bigger income. “Everything is 6% more expensive these days and is only the minimum needed to maintain the purchasing power that you’ve had all along,” Patrick Hubbard, research associate at the Center for Retirement Research at Boston College, told CNBC. The aforementioned gas price for example, is up 47% from one year ago. Thanks for reversing all the Trump energy policies Biden. Jackass.

No sir, it’s not a bunch of malarkey. Until Elon Musk has all of our semis, trains and other transport vehicles turned electric the cost of gas is a VERY big deal. You’ve seen it not just at the pump, but at all the places you go for goods: McDonald’s (I paid almost $6 today for a sausage egg mcmuffin meal – are you kidding me?), Walmart and especially at the grocery store. I was recently helping someone with a budget and we came to a weekly amount of around $150 for groceries. A few months into tracking things it’s more like $225/week.

Two other factors that are likely to reduce the value of that increase are Medicare Part B premiums and taxes, according to research from the Center for Retirement Research. These factors also increase every year and Part B premium payments are usually deducted from Social Security beneficiaries’ monthly checks. The amount someone pays for Medicare Part B depends on their income. In 2021, the monthly premium is $148.50 for single individuals with up to $88,000 in income and married couples with up to $176,000. CNBC also mentioned that from 2000 to 2020, Social Security benefits had an average annual increase of 2.2%, while Medicare Part B premiums went up by 5.9%.

“There is this increase in the benefit, but because it’s eroded by Medicare premiums, it’s not nearly fast enough to keep up with what inflation would be,” Hubbard clarified to CNBC.

You have to understand that liberals are clueless about how economics work. Right now EVERYTHING they do is “reverse whatever Trump did.” Yes, all that stuff that had our economy humming until the Chinese declared germ warfare on us.

2 thoughts on “Good News! Wait, It’s Not.”

  1. Ouch. I have seen prices in grocery store rising lately. Not just a few cents per item but 20 cents or more per item. Will it never end???

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