The “official” inflation number is an artificial construct designed to keep that number as low as possible in order to minimize the cost of living increases mandated for Social Security and other entitlement programs.
If “real” inflation numbers were used for those cost of living increases, Social Security would be tanking in the near future (if he hadn’t already at this point).
SS cant tank. They will make the money from whole cloth.
Yes, I’ve been harping on this for many years and have been amazed that some still try to make the case that everyone is much better off now because they have cell phones and computers and flat screen televisions. What I see being overlooked is that my grandfather who had none of those things and lived a lifestyle that would be considered poverty today also owned hundreds of acres of land and had money in the bank and no debt. Most of those who are enjoying all their modern wonders are either renting or making mortgage payments and have a negative net worth. Of course millions are actually living off those who still have a job but what the heck, they gots I-phones so they are rich, right? I see our whole modern economic system as being as fragile as if it were deliberately constructed to be subject to collapse at any instant. That isn’t possible of course...is it?