[ChicagoConservative27]

I wonder where this money is coming from. Don't forget to send Ukraine another 30 billion. (S)

[PeterPrinciple]

Social Security benefits will increase in January by more than $140 per month, according to the Social Security Administration (SSA).

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What is the NET increase after Medicare increase?

[Red Badger]

What Social Security gives, Medicare takes away..................

[PGR88]

There’s an analysis/economist named Luke Gromen - he has calculated that a Fed.gov deficit of at least $2.5 TRILLION is unavoidable next year.

A large part of short-term government debt will need to be re-priced at higher interest rates

Automatic escalators in benefits like Soc. Sec. will add $ hundreds of billions more

Also, with a bad stock market and looming recession, Gov’t tax revenues will fall like a rock.

Finally, China and Saudi are dumping US debt.

As such, the Federal Reserve will be forced to pivot, and pivot hard, in early 2023.

[MarMema]

Make sure your liberal friends know this has Nothing to do with Biden!!

A law was passed I think under Nixon saying this had to happen.

[fwdude]

Can I assume that if/when inflation again cools, they’ll want to take it back?

[Wuli]

And current working age folks are going to have to FICA tax increases of what amount to pay for this? Congress can sit on its hand and ignore that question, but doing so will only make the problem worse.

[Karliner]

But food inflation was 12% last month

[Big Red Badger]

140 a month,,,
Gee
I’ll try a Corvette.

[Rappini]

What good is the bump when Medicare takes it back.

[flamberge]

I wonder where this money is coming from.

In effect, the government is simply printing the money. There is always plenty more where that came from.

Government right now collects about 50% of the revenue it spends from taxes. The rest of the money comes from "borrowing".

The borrowed money comes from treasury bills which the central bankers (The Federal Reserve) create out of absolutely nothing. They take a percentage off the top as interest and pass the rest along to the government.

You bet that is pure inflation. The beneficiaries are the bankers, the government, and people who have the connections to get first run at the government cheese passed around as contracts or payments to government employees, or welfare payments. Yes, Social Security is another welfare program.

Everybody else is getting their pockets picked by higher prices. Those higher prices get blamed on "greedy corporations", or unreasonable wage demands from workers. That works every time to distract the victims.

It's the government that causes inflation.

[ridesthemiles]

Another thread says current inflation is 13.2%