I wonder how many of the older folks who are getting crushed by inflation and going back to work will again vote Democrat and Biden, the ones who made COVID-induced inflation worse and are doing little to slow it?
Reckless spending and inflation are forcing many Americans to ‘unretire’
Older Americans are increasingly ‘unretiring’ to deal with elevated prices and rocky financial positions. Unfortunately, financial insecurity from inflation may be here to stay.
Rising costs have turned grocery staples like eggs into luxuries for many people on a fixed budget. Prices seemed to be coming down, but recent data signal that the end of elevated inflation remains elusive. The consumer price index (CPI) rose 4.9% in April from a year prior. This is below the generational high of 9.1% in June 2022. However, overall CPI was flat from March after months of slowing price increases.
Prices are coming down? Not on most things. Eggs did come down, as the spike was due to a brief shortage with bird flu, and have now come back, but, still higher than normal. I can’t think of anything else that is coming down.
Shelter prices are up 0.4% from the last month, with overall housing costs at 8.1% higher in April compared to a year earlier. Shelter, which is responsible for a third of CPI weighting, was a key factor driving CPI higher despite declines in other categories.
Unlike other discretionary spending, housing is not optional. Increasingly, Americans are spending more on rent, and this disproportionately impacts low-income people and older adults, especially those on fixed budgets. Nearly 10 million households headed by people aged 65 or older pay more than a third of their income on housing, and half of these pay more than 50%. Renter households tend to have lower incomes than owner households and are more affected by income and rental price changes.
The story continues to be the same month after month after month during the Biden years, eh? Except now it’s about retired folks having to go back to work.
An average of 10,000 Baby Boomers reach retirement age each day. Unfortunately, the inflation-driven affordability crisis and the Federal Reserve’s interest rate hikes meant to combat inflation have driven housing costs higher. As a result, retirees are moving back into the labor force. According to a survey by Paychex, 55% of retirees who went back to work said they did so because they needed more money, and 1 in 6 retirees is considering returning to work.
Their work ethic is welcomed by employers, and their presence may alleviate worker shortages. However, postponing or ending retirement is a hard choice to make.
Welcomed by employers, because so many young folks have a crummy work ethic. Unfortunately, many do have to return to work. Anyhow, if you thought the headline was weird about reckless spending, well, the USA Today actually covers this
The cost of bad policy in the Biden administration
People have connected the dots between ill-advised government policies and harsh economic outcomes. Spending nearly $2 trillion dollars on government transfers to nearly every household at a time of supply-chain disruptions and exacerbated labor shortages caused inflation to accelerate. Putin’s invasion of Ukraine and other production disruptions worsened it.
The Biden administration and congressional Democrats passed a climate change bill that they falsely labeled the Inflation Reduction Act in hopes of fooling Americans, especially seniors. The bill never addressed rising food, housing, or energy prices — the most basic and critical needs of households. Any climate savings would take years to come to fruition and could be offset by new costs for households — tens of thousands of dollars — on new electric vehicles. Meanwhile, the green subsidies cost more than three times what the law’s supporters claimed.
Wow, someone actually did Journalism 101 and the USA today editors allowed it. It’s rare.
I am still amused that the official inflation rate nowhere near matches what I see with my own eyes. At this point, believing any official government statistic is self delusion.
Gov. numbers have been mostly lies since the obummer days. Remember, there are lies, damn lies and there are statistics? The democommies have made statistical bullshit into a science (just like African “culture”).
The current inflation rate is at least 11%-14%. Has been for over two years. When your party owns all avenues of information : news, social media, entertainment, education, most businesses now held hostage by CRT and such none of your numbers can be trusted.
Plus, when you steal an election and absolutely refuse to investigate the allegations by using lawfare what are people to think? We look at leftist anti American/Christian/White/haters even here at this blog repeat constantly that we are crazy or liars for believing what we saw (and are still seeing) with our own eyes.
https://www.thegatewaypundit.com/2023/05/ready-new-video-evidence-maricopa-county-elections-officials/?utm_source=Email&utm_medium=the-gateway-pundit&utm_campaign=dailyam&utm_content=2023-05-29
Of course their excuse isn’t that it’s incorrect. Rather it’s because it’s reported by The Gateway Pundit instead of The Daily Worker. They stick with their narrative.
This will make Dowd and the democommies jealous.
A two-year-old child and the toddler’s entire family have been sentenced to life in prison in North Korea after the parents were caught with a Bible in their possession.
The parents of the young child were sentenced to death.
According to the U.S. State Department, the two-year-old infant and other family members were sent to grueling prison camps.
The brutal punishment comes as the far-left totalitarian North Korean regime continues to “execute,” “torture,” and imprison religious worshippers.
According to a new International Religious Freedom Report by the State Department, as many as 70,000 Christians are currently imprisoned in North Korea.
The findings underscored the brutal punitive measures routinely doled out by Supreme Leader Kim Jung Un.
Anyone caught with a copy of The Bible in North Korea faces the death penalty, while their families — including children — are sentenced to life in prison. (Would that Dowd could do that here).
“The right to freedom of thought, conscience, and religion [in the DPRK] also continues to be denied, with no alternative belief systems tolerated by the authorities,” United Nations Secretary-General António Guterres said last July.
The democommies in America march to this goal as their ultimate achievement.
HeckuvaJobJoey!
America is not like North Korea. Americans are not like Kim Jung Un.
No one is promoting making Christianity illegal in America. No one is promoting jailing Christians.
Recall: First Amendment: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof;
Regarding the “stolen election”:
There is insufficient evidence supporting the notion of a “stolen election”. The fascist right has been using the “stolen election” as an excuse to attack America. Good luck.
Trying to get doxxed again, Rimjob?
Here’s your shirt
#TheSageOfAffton
Bwaha! Lolgf
I’m not responsible for the behavior of others.
We’re frankly surprised that Mr Teach tolerates the risk.
We’re frankly surprised…
#WisdomFromTheSageOfAffton
Bwaha! Lolgf
It’s a fact that in the U.S. the fruits of production accrue to the wealthy more than the workers. It wasn’t always so.
Recall just post WWII, “the salad days”, union dad worked, mom stayed home, kids went to public schools, family took a vacation each year, retirement pension, car in the driveway and college was affordable. Blue Cross/Blue Shield!
Fast forward. Now a two worker family with fewer children can barely scrape by. College tuition out of sight. Crumbling infrastructure. But millionaires and billionaires are getting ever richer! Actual work is for suckers – the real money is in working the system!