It’s good news that folks close to retirement feel they have enough savings to retire early. It’s bad news that ‘baby boomers’ retiring is creating a big labor shortage. That means prices across the board are rising. Which, in turn, is bad news for retirees: Rising prices means their savings aren’t worth what they used to be.
Inflation sows more havoc: Washington politicians adding $10 trillion in federal debt since 2016 led to a flood of printed dollars – as a result, the value of a dollar dropped. Another blow to retirement savings accounts.
Worse, the Congressional Budget Office reports we’re on track to add another $20 trillion in debt over the next 10 years.
More debt. And fewer people working. Who’s going to pay the debt? That’s a simple example of the way Washington politicians run the economy.
Politicians create problems – that politicians can’t fix. To do that we need honest leaders with old-fashioned common sense, who’ll tell politicians, No more. Enough. Stop.