The good news is that federal, postal, military and Social Security retirees in January will be getting the largest cost of living adjustment they’ve had in years. That is also the bad news! Especially for most working feds who are under the Federal Employees Retirement System (FERS) program with its diet cost-of-living-adjustment (COLA) feature. When inflation exceeds a certain amount, FERS retirees get it, minus one percentage point. That is not so bad IF it is a rare thing. But if inflation returns to bad-old-days levels, it could quickly erode the buying power of FERS retirees. How bad is that over time?
Well if you’ve picked up the habit of eating every day, if you wear clothes in public or if you get around by trains, planes or automobiles, you’ve probably noticed prices are going up. Up for everything from basic to luxury items. Whether the big jump in prices is because of climate change, supply chain problems, lack of workers or other things, it matters a great deal to politicians, journalists and people in academia. You just want to know why after years of 2-to-3% per year inflation, the cost of living adjustment jumped in the last 12 months. The biggest increase since 1990.
Nearly Useless Factoid
By Alazar Moges
The reason cats rub their heads against things is because they have scent glands in their cheeks, forehead and chins. Rubbing up against people, other cats and objects is a form of marking their enviroment and grouping it together with the same scent.