Pittsburgh FRED charts - unbiased economic snapshots (Erie, Penn: house, unemployment)

[Reggiezz]

Originally Posted by BUILD PENN SQUARE

https://fred.stlouisfed.org/series/RGMP38300

So... social security recipients will be getting a 9% pay increase shortly. That's about 20% of the population and its highly inflationary for 2023.

What do you think will be the result?

[leastprime]

Medicare will absorb most of the benefit dollars.
YBMV

[Reggiezz]

Originally Posted by leastprime

Medicare will absorb most of the benefit dollars.
YBMV

No it won't. As a matter of fact, Part B costs have decreased. Medicare advantage plans have limited out of pocket expenses, and Medigap has no out of pocket expenses, but a higher monthly cost than MA.

Everyone else's heath care expenses are skyrocketing, however.

I'm on Medicare and know. Try again.

[leastprime]

^#33
Don't have Advantage. You may be right. But for us,
Part B will be $164.90 plus IRMMA adjustment. IRRC Part B for 2022 is lower.
Part D will be IRMMA $31.50 plus benefit improvements. DW will be taking enhanced D for 2023, I am taking a premium D because of expected drug treatments.

Overall, our net 2023 SS, will decrease by at least 9.% without IRMMA adjustments.

Our HOA is increasing 5% (only 50% funded, so trying to maintain reserves, while previously it was trying to increase reserves in the last 4 years).
Electricity is increasing 5%, infrastructure improvements. I expect further increases here.

over all, I don't think 2023 increase SS benefit will have much affect on inflation.
Wage, housing, food, energy will have greater impacts.
YBMV

[Reggiezz]

Part B declines for everyone from 2022 to 2023. Look it up.

[Reggiezz]

Originally Posted by leastprime

^#33
Don't have Advantage. You may be right. But for us,
Part B will be $164.90 plus IRMMA adjustment. IRRC Part B for 2022 is lower.
Part D will be IRMMA $31.50 plus benefit improvements. DW will be taking enhanced D for 2023, I am taking a premium D because of expected drug treatments.

Overall, our net 2023 SS, will decrease by at least 9.% without IRMMA adjustments.

Our HOA is increasing 5% (only 50% funded, so trying to maintain reserves, while previously it was trying to increase reserves in the last 4 years).
Electricity is increasing 5%, infrastructure improvements. I expect further increases here.

over all, I don't think 2023 increase SS benefit will have much affect on inflation.
Wage, housing, food, energy will have greater impacts.
YBMV

Social Security increases will FUEL inflation in everything else. That's how inflationary price spirals work.

[leastprime]

Originally Posted by Reggiezz

Part B declines for everyone from 2022 to 2023. Look it up.

Not really too concerned. Whatever the amount increase or decrease, is relatively small to us. We had set aside considerable reserve funds from the property sale that triggered the IRMMA.
I wish that we could see a Medicare premium decrease. However, we are more than pleased to receive the Medicare benefits. We are experiencing old age issues that impact us more than the premiums.
YBMV

[Moby Hick]

Originally Posted by leastprime

over all, I don't think 2023 increase SS benefit will have much affect on inflation.
Wage, housing, food, energy will have greater impacts.
YBMV

Hopefully wages. Why everyone decided to see how many people we could knock out of the workforce with disease-induced disability right when the biggest generation is drawing social security and the smallest generation is in their peak paying social security years, I don't know. But over the next 20 years we're going to need at lot more workers or we've got to get the workers we do have to work harder. The plans to do that without raising wages all boil down to people who bought houses in 1987 lying to each other about what it costs to live.

[erieguy]

Originally Posted by Moby Hick

Hopefully wages. Why everyone decided to see how many people we could knock out of the workforce with disease-induced disability right when the biggest generation is drawing social security and the smallest generation is in their peak paying social security years, I don't know. But over the next 20 years we're going to need at lot more workers or we've got to get the workers we do have to work harder. The plans to do that without raising wages all boil down to people who bought houses in 1987 lying to each other about what it costs to live.

Contrary to what we’ve heard about young folks supposedly saving the country, this says otherwise. Living in fear and shutting it down continues to have huge consequences.

Young workers left Pennsylvania's labor force at the highest rates after the pandemic began

https://www.wesa.fm/economy-business...pandemic-began

[Craziaskowboi]

Heh, oops.