I currently receive a Social Security benefit check of $985 a month, which is a spousal benefit I qualified for, one of the last to be able to make use of the so-called file-and-suspend option for married people reaching age 66 that the Obama Administration and Congress agreed to do away with two years ago, in one of many small cuts being applied to the Social Security program.
This year that benefit, like the benefit checks of all 60 million people (one in five of all Americans) on Social Security, rose by a scant 0.3 percent, taking my check from $983 a month last year to its present level -- a rise of $2.00 a month (I was actually screwed out of a dollar because of crooked rounding!).
Now we learn that the Federal Reserve is raising the benchmark interest rate a notch because inflation is actually running at close to 2 percent -- the "target" of the Federal Reserve Bank's policy makers for achieving what they call a "health economy."
Now don't tell me that inflation was running at 0.3 percent last year and that it's now 2.0% three months later. We didn't just have a huge 1.7% jump in prices of everything over the past three months.
The truth: This is a screw job on the elderly and the disabled, pure and simple.