Obama’s mantra since entering the Oval Office has been he would not tax the middle class. His proposed budget, already two months late, demonstrates how much of a liar he is.
Senior citizens are members of the middle class. Some are even members of the lower class. Yet his budget cuts deeply into what little money they have to pay for the necessities of life.
Obama’s budget has cuts to the cost-of-living adjustments to Social Security recipients. Cost-of-living adjustments are required to keep pace with inflation. As prices rise it becomes more costly for seniors and all Americans to afford things.
Here are some examples of inflation at work today.
Beef and veal are up 11.5%
Fish and seafood are up 6.8%
Fuel oil is up 18%
Prescription drugs are up 4.2%
Rents are up 2.5%
Gasoline is up 9.9%
Medical care services are up 3.6%
Without cost-of-living adjustments, senior citizens as members of the middle class, face higher costs because of inflation. Inflation is a hidden tax.
The Obama Administration wants a new method for calculating cost-of-living adjustments also. They want to substitute goods rising in price with less expensive products in the calculation. It results in a slightly lower annual reading for inflation which cheats seniors because it doesn’t reflect the true rate of inflation.
Obama on the campaign trail said he would not cut Medicare. His budget calls for $400 billion in cuts from Medicare and other health care programs over a decade. The cuts will help to finance ObamaCare.
The AARP man who did my tax forms warned me today to expect higher Medicare costs next year. As a senior, my medical expenses have gone up and not down. My income is fixed and I am squarely in the middle of the middle class. All of the cost savings I am suppose to realize is illusionary. As a middle class person, my expenses have increased under Obama and not decreased as he predicted. Everybody’s expenses are up.
Obama’s promises are as false as a wooden nickel. Those who support him are either ignorant or in denial. Rather than getting ahead, I and millions like me are falling behind because of his economic policies. He is a disaster.