It’s been 43 years since the last time we ‘adjusted’ Social Security — And it’s running out of money, again.

Social Security is the nation’s largest social insurance program, making payments to approximately 75 million Americans every month. Yet the program faces an imminent funding shortfall. Social Security’s trust fund for retirement benefits may run out in 2032, which could prompt an across-the-board benefit cut, according to projections from the Social Security Administration and Congressional …

READ MORE

Inflation adjusted starting salaries for new graduates fell to $54,500, lowest in six years

A recent report shows: Inflation‑adjusted starting salaries for new U.S. college graduates have fallen to about $54,500 This is the lowest level in at least six years Real wages for graduates have been declining as the entry‑level job market cools Fewer graduates are landing jobs aligned with their degrees This comes directly from a labor‑market …

READ MORE

The $3,000 capital loss limit was set in 1978. Still frozen. Should be $15,430 today. Same with dependent care and Social Security brackets. Congress never adjusted.

Some numbers never move. Not because they shouldn’t. Because Congress never bothered. The U.S. tax code is riddled with thresholds that were set decades ago and never indexed to inflation. They sit frozen in time while the cost of everything else climbs. The result is a quiet tax hike that hits middle-income Americans hardest. Start …

READ MORE

The recent surge in gold prices may seem impressive, but when adjusted for inflation, it still lags behind the peak in 1980 by 20%.

Gold may have hit an all-time high earlier this week but on an inflation adjusted basis it remains 20% below the 1980 peak pic.twitter.com/yKUScQ7laZ — Barchart (@Barchart) December 6, 2023 Poland bought 300t recently — Jan Nieuwenhuijs (@JanGold_) December 5, 2023 Moody's has cut China's credit outlook to negative. Moody's also recently lowered the United …

READ MORE

“We currently are earning less and spending more (adjusted for inflation) than at the worst point of the Great Depression”

People make less money, and prices are rising everywhere. Housing prices are going crazy. 😢 Are we in a quiet recession already? So many people earn less and everything costs more. Inflation has eroded earnings dramatically in real terms. Meanwhile, food, housing an all of the basics in life are sky high. pic.twitter.com/sfDnI6nJOy — Wall …

READ MORE

Inflation Adjusted, Men Are Making Less Money Than in 1979, Women Are Doing Better

via Mike Shedlock: BLS charts show interesting trends in real (inflation-adjusted) weekly earnings. Men are getting clobbered relative to women, but everyone is losing lately. Median real earnings from the BLS, inflation adjusted to the 1982-1984 CPI Index, chart by Mish. Median Weekly Real Earnings In the first quarter of 1979 men were making $408 …

READ MORE

In April, consumer credit (AKA consumer DEBT) increased at a seasonally adjusted annual rate of 5.7%. Revolving credit (credit cards) increased at an annual rate of 13.1% , while nonrevolving credit (student loans, personal loans, mortgages) increased at an annual rate of 3.2%.

by Dismal-Jellyfish Source: https://www.federalreserve.gov/releases/g19/current/g19.pdf Remember, From 1st quarter 2022 to 1st quarter 2023, total household debt has increased $1,205 billion to $17.05 trillion (+7.57%)–Mortgage balances ($864 billion), HELOC ($22 billion), Student loans ($14 billion), Auto loans ($93 billion), Credit Card debt ($145 billion), Other ($67 billion): Total household debt has risen by $148 billion, or 0.9 percent, …

READ MORE

Despite Getting Whacked by Bank Turmoil, Layoff News, Credit Crunch, High Interest Rates, and Inflation, our Drunken Sailors Spent Even More, Even Adjusted for Inflation

Guest Post from Wolf Richter at WolfStreet.com: Where does the money come from? They now out-earn inflation, they earn interest income, and they dipped into their assets whose prices ballooned over the years. Consumer spending, adjusted for inflation and for seasonal factors jumped by 0.5% in April from March, after two months of declines and …

READ MORE

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads and the generous support of readers like you to keep delivering free, high-quality content. Right now, we are facing serious funding challenges and we need your help more than ever. Disable your ad blocker and this message will vanish. You can also sign up for a membership to enjoy an ad-free experience while supporting our work: https://citizenwatchreport.com/plans/subscriptions/ Your support helps us stay independent, continue our work, and keep content free for everyone. We truly appreciate your understanding and thank you for standing with us.