70 Million American Retires To Get Their Biggest 'Pay-Rise' In 39 Years

Source: https://www.zerohedge.com/personal-finance/70-million-american-reitrees-are-about-get-their-biggest-pay-rise-39-years
Published: Oct 13, 2021
Author: Tyler Durden
Post Date: 2021-10-13 14:18:04 by Horse
Views: 162

Thanks to The Fed's non-transitory 'transitory' inflation, millions of America's retirees are about to get the biggest pay-rise in 39 years.

Since 1975, Social Security general benefit increases have been cost-of-living adjustments or COLAs, to keep pace with The Fed's post-Nixon inflationary pressures.

With 2020's surge in inflation refusing to obey The Fed's narrative, this year's COLA will be a stunning 5.9% - the highest since 1982.

Poster Comment:

Since inflation is 13%, actually 70 million will be getting a pay cut.

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#1: Cynicom    To: Horse (#0)

Since inflation is 13%, actually 70 million will be getting a pay cut.

Excelolent observation.

Over 80 million """AMERICANS""" voted for it.

Cynicom posted on 2021-10-13 15:15:42   Reply   Private Reply

#2: Darkwing    To: Horse (#0)

5.9% that will cover the price of gas.

Darkwing posted on 2021-10-13 18:52:43   Reply   Private Reply

#3: Fred Mertz    To: Darkwing (#2)

I've got so much money I don't what to do wiff it.

Fred Mertz posted on 2021-10-13 20:28:56   Reply   Private Reply