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| Economy |
| CPI up +0.4 for Sept; Social Security will rise 8.7% in 2023 |
| 2022-10-13 |
| Amid record high inflation, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023, the highest increase in 40 years. The Social Security Administration announced the change on Thursday. It will result in a benefit increase of more than $140 more per month on average starting in January. ---------- Federal civil service and military service pension will also rise by 8.7%; Happily Medicare part B premiums will decrease slightly in 2023. The pension increases will mean an additional $20 B or so in Federal Spending (my guess). |
| Posted by:Lord Garth |
| #10 In an article about inflation, I noted Gas: +18.2% Fuel Oil: +58.1% Question: Can producers twiddle a barrel of oil to get more gas and less diesel and home fuel oils? Making gas cheaper but other fuels more scarce/expensive? So my last gas was $3.39 because other uses (homes and truckers) are paying more? Another "win" for Brandon! |
| Posted by: Bobby 2022-10-13 16:41 |
| #9 the SNAP benefit went up ~12% because the adjustment is based on the grocery index not the 'all products' index and also the calculation year is different as the SNAP adjustment year ends on 30 June vs the SSI adjustment year that ends on 30 Sept. |
| Posted by: Lord Garth 2022-10-13 15:41 |
| #8 Proving again my point: No demographic votes more regularly nor more heavily than old people. Politicians want to be SURE we get goodies just before an election. And the decrease in Medicare Part B is also nice. But in this era of persistent inflation, I wonder how on earth (other than sheer, naked vote-buying) they justify it. Not that I'm complaining. I'm just curious. |
| Posted by: Tom 2022-10-13 15:08 |
| #7 (I base on difference between government spending and income compared with GDP.) |
| Posted by: Glenmore 2022-10-13 15:03 |
| #6 And I figure true inflation is 16-24-% |
| Posted by: Glenmore 2022-10-13 15:02 |
| #5 SNAP benefits just went up 12.5%. Interesting difference. Guess folks on food stamps experience higher inflation rates than retirees - but what about when those populations overlap? |
| Posted by: Griter Slash1619 2022-10-13 14:44 |
| #4 ...I'm grateful they didn't cut the raises for SS recipients, and actually somewhat surprised they didn't try to eliminate them entirely for the retired military. And yes, I know what the law says - but they denied a raise for the retired military some years ago because we all had to do our part. Mike |
| Posted by: MikeKozlowski 2022-10-13 14:44 |
| #3 A fruit, a vegetable, a condiment, and a pasta sauce. Imagine how much more ketchup one can get! Not sure what that bakery is complaining about when oatmeal ketchup cookies are the next new tradition! |
| Posted by: swksvolFF 2022-10-13 14:14 |
| #2 How much will Medicare deductions go up? |
| Posted by: Deacon Blues 2022-10-13 13:20 |
| #1 That will help slightly to pay the extra 62% Quaker Old Fashioned Oats now costs me per 10 lb. box. |
| Posted by: Gromble Dribble4342 2022-10-13 10:35 |