[DanZ]

The MSM is the pretorian guard for Pols who have to be secretly laughing at how they have accomplished “ fooling the people all the time”

Council of Economic Advisers chair Cecilia Rouse - I fully expect that our labor market will come back and be flourishing. That said, we do expect some transitory price increases. The Feds expects that as well.

inflation the other way to tax people and reduce the cost of indebtedness

What will be the 2022 SS increase 2%, 3% - announcement sometime in Nov./Dec. 2021

Who remembers the late 70's early 80's - Stagflation may be upon us by late summer

[kabar]

An increase in inflation will increase SS costs and debt servicing costs. The dirty little secret is that the Fed is keeping a lid on interest rates to avoid an inevitable huge increase to our budget. They can only keep the lid on so long before inflation explodes it.

Government spending is broken down into three categories: mandatory spending, budgeted at $2.966 trillion; discretionary spending, forecasted to be $1.485 trillion; and interest on the national debt, estimated to be $378 billion. We only receive about $4 trillion in revenue, so the budget deficits are going to be enormous.

Mandatory Spending

Mandatory spending is estimated at $2.966 trillion in FY 2021. This category includes entitlement programs such as Social Security, Medicare, and unemployment compensation. It also includes welfare programs such as Medicaid.

Social Security will be the biggest expense, budgeted at $1.151 trillion. It's followed by Medicare at $722 billion and Medicaid at $448 billion.

Social Security costs are currently 100% covered by payroll taxes and interest on investments. Until 2010, there was more coming into the Social Security Trust Fund than being paid out. Thanks to its investments, the Trust Fund is still running a surplus.

The Trust Fund’s Board estimates that Social Security's surplus will be depleted by 2034.3 Social Security revenue, from payroll taxes and interest earned, will cover only 79% of the benefits promised to retirees.

Medicare is already underfunded because taxes withheld for the program don't pay for all benefits. Congress must use tax dollars to pay for a portion of it. Medicaid is 100% funded by the general fund, also known as "America's Checkbook." This account is used to finance daily activities and long-term operations of the government.

With 10,000 baby boomers reaching 65 each day until 2030, the costs of the entitlement programs will increase rapidly. The Medicare Trust Fund (HI) will be bankrupt by 2026. An by law, the medicare payroll tax only covers 25% of Part B costs. The other 75% is picked up by the General Fund. The sh*t is about top hit the fan and Biden's huge spending bills will weaken the dollar and result in hyperinflation.