Showing posts with label Destruction of Retirees. Show all posts
Showing posts with label Destruction of Retirees. Show all posts

Tuesday, January 23, 2024

The Biden Years | The US may have tiptoed around a recession last year, but it won't be so lucky in 2024

Title:

Article Snip: "...careful look at the labor market now will suggest that hiring has just ground to a halt...The problem is that the Fed badly misread how long high inflation would linger...In December, the core inflation print notched an annual 3.2% increase. "They've never missed in that direction by that magnitude ..."

Reference: www.businessinsider.com
2024, The Biden Years,Inflation,Recession 2024,Biden Legacy,Destruction of Seniors,Destruction of Retirees,






Monday, January 8, 2024

The Income Gap Jeopardizing Retirement for Millions

Title: The Income Gap Jeopardizing Retirement for Millions

Article Snip: "...the inequities between the very bottom and the top of income distribution,” said Jack Chapel, the lead author of the study, an economist and doctoral candidate... “We wanted to look at the middle class, where people are struggling.”

Drawing on data from the national Health and Retirement Study between 1994 and 2018, the researchers found “a bifurcation” among Americans in their mid-50s, he said.

In effect, they now divide into two middle classes: the ...
"

Reference: www.nytimes.com
Destruction of the Working Class,Destruction of Retirees,Destruction of Social Security,






Friday, December 29, 2023

For Three Years Biden Has Forgotten Social Security Retirees While Favoring Illegals

Title: Biden's 2020 Promised Lies for Social Security That Never Happened

Article Snip: "He would expand some benefits while not reducing any, reducing economic hardship. ...Biden would raise benefits for long-term low-wage workers, widow(er)s from dual earner-couples, caregivers, government workers, and long-term beneficiaries. My colleagues and I have long argued for increasing Social Security benefits for people..."

Reference: www.taxpolicycenter.org
Social Security, Biden's Lies,Biden Legacy,Destruction of Retirees,






Tuesday, October 31, 2023

How About Social Security Recipients Joe? Biden Backed UAW Workers 25% Pay Increases While Veterans and Social Security Recipients Struggle to Survive

Article Title: Biden speaks with UAW head after tentative deals struck with Big Three

Article Excerpt: "Biden, who had appeared with striking autoworkers in Michigan in September, called it a “hard-fought agreement” that was reached after weeks of “good faith” negotiations. ...members, would include a 25 percent general pay increase over the course of a four-year contract, increased retirement benefits and more paid leave. ..."

Reference Source: www.valleycentral.com






Friday, September 8, 2023

Send Joe Biden into retirement

Title: Biden is pursuing the most anti-business economic policies since FDR

Article Snip: " The economy was reeling at a 6.5% annual growth rate. That was given to him on a silver platter by Donald Trump. Today, the economy is actually reeling at a 1% growth rate. Boss Biden gets another Bottomless Pinocchio. How about "unleash prosperity"? Now, that would be my kind of slogan or, how about, "a rising tide lifts all boats"? Trouble with Joe Biden is he's a stick-in-the-mud class warrior. Middle, lower, upper… diversity, equity, inclusion, woke… it's all left-wing gibberish. Biden says his "middle-out, bottom-up, whatever-that-means" is "working." Sure it is, Joe... A couple of new polls out today. YouGov just said 29% of voters approve of his inflation policy, while 61% disapprove. Overall, a recent AP/NORC (University of Chicago) poll says 34% of voters approve of Biden's economic policy — 34%. So, we have a disconnect here between rhetoric and the reality. Or, in terms of "middle-out, bottom-up," real hourly earnings, a.k.a. middle class wages, are falling 3% at an annual rate. Or, real average weekly earnings are dropping at a 5% annual rate. Or, for the bottom quartile of income earners, which is $38,000 a year or less, they've declined by 2.3% under Joe Bidenomics. "

Reference: www.foxbusiness.com
Bidenomics, Biden Economy Fail,Destruction of Retirees,






Friday, August 25, 2023

The Social Security cost-of-living adjustment for 2024 will be a paltry 3%, analysts estimate — a dramatic drop from 8.7%. But here's one unexpected factor that could bump it higher

Title: The Social Security cost-of-living adjustment for 2024 will be a paltry 3%, analysts estimate — a dramatic drop from 8.7%. But here's one unexpected factor that could bump it higher

Article Snip: "“A major storm impacting the Gulf Coast and nearby refineries will likely lead to a spike in gas prices for a few weeks,” AAA spokesperson Andrew Gross told CNBC. Such circumstances could affect the 2024 COLA. “The COLA estimate will go up if the price of gasoline jumps considerably,” Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League (TSCL), told the news outlet. “The COLA estimate might go down if gas and oil prices drop.”..."

Reference: yahoo.com
WTI vs. CPI vs. COLA, Bidenomics,Inflation 2023,Destruction of Retirees,






Friday, August 18, 2023

Bidenomics | U.S. Mortgage Rates Jump to Highest Level Since 2002

Title: Bidenomics | U.S. Mortgage Rates Jump to Highest Level Since 2002

Article Snip: "The average 30-year fixed-rate mortgage has climbed above 7 percent, making it harder for buyers to afford homes, which are already in short supply. ...mortgage rates began abruptly rising last year, when the Federal Reserve started lifting interest rates to rein in rapid inflation, the housing market has stagnated, as owners with low mortgage rates have been unwilling to put their homes up for sale. In June, sales of existing homes fell nearly 19 percent from the year before, according to the National Association of Realtors. ..."

Reference: www.nytimes.com






Tuesday, February 21, 2023

‘This is not the retirement I envisioned.’ How retirees are getting hit by inflation

Title: ‘This is not the retirement I envisioned.’ How retirees are getting hit by inflation

Article Snip: "One common refrain was the shock of dealing with the huge jump in food prices – especially on meat, fruits and vegetables. Food prices have seen their largest annual increase in 41 years. And the cost of groceries jumped 10.8% between April 2021 and April 2022. But of course, inflation’s reach goes far beyond the supermarket. Here’s how these retirees say they are coping...her rent will be increased by $200 a month – a 14% jump...Her expectations for retirement were very different than her present reality. “I didn’t expect the level of stress financially. I truly didn’t. I worked for 50 years. ...electricity and natural gas commonly used for heating and cooling homes, was up 30.3% year-over-year. Plans to buy a new car are also tabled. “The starting price for a new Jeep is $15,000 more than my house cost..."

Reference: www.cnn.com
Inflation 2023, Retirees vs Inflation,Destruction of Retirees,

Tuesday, January 9, 2018

Gotcha, Sorry, We Need Your Social Security to Pay for Medicare

Title: January surprise of vanishing Social Security COLA

Article Snip: "...most Medicare beneficiaries will pay $134 per month for Part B, which pays for doctors' fees and outpatient services. That's a $25-per-month increase over the 2017, nearly wiping out the Social Security COLA for many retirees..."

Reference: www.investmentnews.com
Medicare, Medicare Part B premiums, Social Security COLA 2018, What does Medicare Part B cover?, Destruction of Retirees, Medicare Advantage Plan,

More Reading: (From Medicare.gov) If you're in a Medicare Advantage Plan or other Medicare plan, you may have different rules, but your plan must give you at least the same coverage as Original Medicare. Some services may only be covered in certain settings or for patients with certain conditions.

After Huge Corporate Tax Cuts, GOP to Attack Medicare, Social Security

Title: After Tax Cuts, GOP Leaders Turn Buzz Saw to Medicare, Social Security

Article Snip: "...Top officials in the Republican Party have suggested in recent days that they will pursue major entitlement reform following the likely passage of massive tax cuts in the near future. Those officials, House Speaker Paul Ryan (R-WI) and Sen. Marco Rubio (R-FL)..."

Reference: www.thedailybeast.com
Destruction of Retirees, destruction of the American working class, Corporate Greed, Marco Rubio, Paul Ryan,