Not long ago, senior citizens got the two biggest annual increases in their monthly Social Security checks that most had ever seen. But for many of them, the adjustments still weren’t enough to cope with the runaway inflation of earlier this decade and the continued high prices for food, housing, utilities and other necessities.
  • BobaFuttbucker@reddthat.com
    3·
    1 year ago

    Why are the actions of congress Biden’s fault and not congress’? The President does not set policy. He can only ask congress to send him a Bill and decide whether or not to sign it into law.

    We need to get better at holding the correct people accountable for our problems if we ever expect anything to get done.

    This is just another “Biden bad” article.

      • BobaFuttbucker@reddthat.com
        3·
        1 year ago

        Biden’s policies ≠ law.

        Biden does not have a metaphorical “raise/lower inflation” lever that he can just manipulate as he sees fit. He’s just the figurehead you don’t like him, so he’s your scapegoat. Most of the inflation you see today stems from supply chain crises around the world which showed businesses they can just raise prices and people will pay them.

        Much of the inflation you see today isn’t actual inflation. It’s price-gouging.

  • echo
    31·
    1 year ago

    Trolls will say absolutely anything. It’s MAGAs that want to completely eliminate social security.

  • AutoTL;DRB
    1·
    1 year ago

    This is the best summary I could come up with:

    That’s forcing more of them to spend their emergency savings, carry debt on credit cards or apply for assistance programs, according to The Senior Citizens League, a nonpartisan public education and advocacy group.

    Some polls have shown that Americans generally disapprove of Biden’s handling of the economy compared with former President Donald Trump, his presumptive rival in November’s election who enjoyed much tamer inflation during his administration.

    This shortfall is forcing more seniors to turn to other sources of funds, such as savings or credit cards, and to assistance programs to help with rent, utilities, real estate taxes and health care costs, said Shannon Benton, the league’s executive director.

    That means seniors are losing even more buying power since the rate exceeds their adjustment for this year, said Mary Johnson, an independent Social Security and Medicare policy analyst.

    Biden has been courting senior citizens – a large block of reliable voters – by emphasizing on the campaign trail his efforts to reduce prescription drug prices and repeating his vow to protect Social Security and Medicare, among other policies.

    While voters’ choices are often based on multiple factors, those who feel they’ve fallen behind financially tend to place more importance on the economy and inflation, said Marty Cohen, a professor of political science at James Madison University.

    The original article contains 793 words, the summary contains 214 words. Saved 73%. I’m a bot and I’m open source!