59.1 million of our friends and neighbors are collecting Social Security.
And some 76% of them rely solely on SS payments for their continued livelyhood.
Imagine the surprise of those who've retired on SS in the past few years to wake up one morning and discover their money is now worth 21% less.
Because their elected Congressweenies have enacted laws during that period that have made them poorer. They've spent more than we've taken in, resulting in rampant inflation. Up to 9.1% inflation during the Biden Administration. The very highest rate of inflation since Jimmuh Carter was screwing up 'Murica. And maybe even worse than that...
I, The Chuckmeister, am a noted near-Egyptologist, a budding cryptozoologist, a certified gunsmith, an Eagle Scout and an actual graduate economist. Which means I know all about money and banking and inflation and how we got $38 Trillion Dollars in Federal Debt. Upon which we are now obligated to pay more than $1,050,000,000,000 in annual interest payments. That's with a "T." As in $Trillion.
I might add about here that Trump just signed into law our upcoming Federal Defense Budget, which totals $905,000,000,000. That's with a "B."
Put simply, we're now paying more in interest on our Federal debt than we are on keeping our fighter jets and submarines, and tanks running, along with the 1.7 million soldiers, sailors, airmen and Marines fed, clothed and armed.
All that stated, here are some factoids you might wish to inculcate. The very first job I had paid me $0.75 cents an hour to sweep out a store after school and on weekends. The average family income when I was a junior in high school was $5,700 a year. That was in 1960.
The average family income in 1970, just 10 years later, jumped up to $9,700. How about 1980? Average annual family income leapt up to $21,400. Almost quadruple a decade earlier. Why? Because the Federal Gubmint spent too much of our money.* Actually, they had to borrow from others to spend too much of our money. Contributing to our Federal Debt. It started waaay back then. And hasn't stopped since...
In 2020 the Biden Administration borrowed and spent some $6 Trillion Dollars more than our Country took in. Even though during that period our income tax receipts totaled more than $4.6 $Trillon. An all-time record.
This caused the value of our money to drop like a stone. And resulting in unheard of inflation. Resulting in the price of our goods and services to skyrocket. Rendering the buying power of those 59 million retirees, collecting Social Security, to drop by more than 20% over the coming three years.
The first time I visited McDonalds, I purchased two cheeseburgers, two orders of fries and a vanilla shake. I got $0.13 cents back out of a dollar.
Now? That same order would set you back more than $15.00. That's called inflation. And it's resulted in our retirees now forced to live on less. Much less.
Trump is now endevoring to help increase workers' wages in order to counteract inflation. But retirees can't do that. Unless they want to get a job as a Wal-Mart greeter, they have to make do with less. And their Gubmint did that to them. It stuck in the knife, and then twisted...
15% of our population has been shat upon. Maybe the Gubmint doesn't fear their response. Maybe the Gubmint just doesn't give a damn about our older folks. And maybe our Gubmint will do it again, just as soon as those who did it before are back in power.
Now that you know how and when this outrage occurred, vote more wisely in the future. Your grandpa and grandma are counting on it...
* The simple definition of inflation is too many dollars chasing too few goods and services, resulting in rising prices and decreased buying power. It's happened before. It could happen again...