Neighborhood Ministries

President Biden’s administration has been hard on Seniors. President Biden’s massive spending has fueled increasing inflation like we have not seen for a long time. Seniors are hurt by it since they are on a fixed income. While they give Seniors a cost of living increase, it is only after the fact and does not return the loss. If the Social Security is considered adequate at the beginning of the year, and inflation increases costs 4% during the year, the Senior income buys 4% less at the end of the year. If they get a 4% increase, it brings them up to adequate but doesn’t reimburse them for the past year’s loss. That continues every year, but the Senior is never reimbursed. In addition, the cost of Medicare increases and is taken out of the Senior’s check so his income is not really being brought back up to adequate. Due to wasteful spending, the inflation rate has far exceeded 4%. Worse yet, the cost of living is based on across the board increases while increases in food, and fuel for heating and travel have increased far more than the estimated cost of living and make up the bulk of Senior expenses. Auto fuel alone has risen over 100%. It is requiring many Seniors to dip into their life savings at an increased rate and those savings will not be adequate given the increase in years Seniors now live. As a result, an increasing number of Seniors will reach the point where they can no longer afford to live in their own home and will be forced to move to government subsidized housing. Since many of their homes are paid for, it will be far more costly for the government.