Seniors who live on a fixed income are suffering in President Biden’s cruel economy, as the latest inflation report shows Americans continue to fall further behind.
As CNN reports, retirees are having to make significant lifestyle changes in order to make ends meet. For some, Biden-Flation has exacerbated their loneliness, as they cut back on social outings or forgo hobbies. But for others, Biden-Flation has made it impossible to afford basic necessities:
“Barbara Smith, 70, is a caretaker and also volunteers at Trinity Cafe in Tampa, a restaurant that serves free meals to the less fortunate. But she said she has come to rely on the take-home meal she gets after her shift and it is often the only one she eats all day. ‘Then I don’t have to go and purchase it, because I don’t have the money to do that,’ Smith said.”
Unfortunately, President Biden is more interested in touting his tax hikes on middle income earners, blaming Republicans for his cruel economy, and encouraging folks to buy generic items at the grocery store.
KEY TAKEAWAYS:
Seniors are suffering in Biden’s cruel economy.
- As reported by CNN, as 67-year old Sharon Johnson’s expenses have skyrocketed this year, her family has had to cut back on groceries.
- “‘The cost of living is not working well right now for us. It’s hard,’ Johnson said. ‘I’ve never had to feel a worry about how we were going to eat, but today, we’re only doing light foods, sandwiches.’”
- Half of older women who live alone are now classified as “poor,” and can’t afford essential expenses – while 45 percent of men are in the same steadily sinking boat, according to a study by the University of Massachusetts-Boston
- Prices have outpaced seniors’ fixed incomes. Next year’s Social Security benefits will have the highest automatic increase in 40 years.
American families are bracing for a Biden recession.
- At least 84 percent of American adults believe the U.S. will be in a recession before the end of the year, according to a recent survey.
- The survey also found that more than 75 percent of Americans are making changes to their lifestyle including delaying major purchases (34 percent), delaying paying down debt (29 percent), and cutting back on spending for the holidays (28 percent).
- More than half of workers’ paychecks have been slashed by nearly nine percent, the steepest pay cut in 25 years, according to analysis from the Dallas Fed.
READ: Bloomberg Forecast: 100 Percent Chance of Biden Recession
Republicans’ Commitment to America means a stronger economy.
- One of the central tenets of the Commitment to America is “an economy that’s strong” – one where families benefit from increased take-home pay, good-paying jobs, and stability through pro-growth tax and deregulatory policies.
- Republicans’ Tax Cuts and Jobs Act helped all Americans by reducing the federal tax rates for households across every income level, while increasing the share of taxes paid by the top one percent.
- Ways and Means Republicans have introduced a bill to make permanent the very tax reform that succeeded in helping lower-income families.
READ: GOP Tax Reform Helped Low-Income Families, But Their Gains Are Declining After Biden Stimulus