Inflation for Seniors

Inflation is bad. And we have just had a boatload of it. Since 2020 utilities are up 30%, gasoline up by 50%, and food up 20%. Americans are hurting but none so much as seniors.

Look, I am not whining. But we are in election season and I don’t like what one party is offering. We need a change. Democrats have had 4 years to keep this from happening and they have failed. But seniors are hurting the most – because increases in pay such as Social Security and pensions have not kept up. And seniors will never catch up. That is the insidious nature of inflation.

When I was working and we went through such an inflation period (as in the late 1970’s and early 1980’s) it was tough. But slowly I caught up. Wage increases higher than the inflation rate gradually (though it took about 10 years) restored my buying power. And the private sector is not bound by weird government calculations.

But seniors don’t get those wage increases. Their raises are tied to the CPI which does NOT reflect a complete picture of inflation (like gas, education, food, mortgage rates, rent, insurance etc.). And increases for example in Social Security are always based on the average CPI for the last three months of the fiscal year only. And those increases in Social Security are 1% BELOW the CPI average for those last three months. (BTW: Medicare costs are increased by the same rate as the Social Security increase.) So if inflation runs high for 9 months but falls the last three, seniors get screwed. And that is what has happened. Seniors can never get caught up!

So as a senior I ain’t voting for anyone from a party that has ignored 60 million Americans. But there are seniors that will. But then again I’m an Old Guy and I don’t get it.