VA and Social Security COLA 2025 vs. Real Cost of living! #veteran #vet #military #ssi

Published: Sep 11, 2024 Duration: 00:02:19 Category: Howto & Style
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we're going to talk about cost of living today not the cola the cost of living adjustment and I don't care what the number is all that does is say hey look we're going to give you a little bit of money so that you can hopefully buy the same things next year that you buy this year so let's talk about the amount of money needed to cover basic expenses such as housing food taxes and health care in a certain place and time period the time period is right now we need to talk but here's what we're looking at let's look at October 2016 I typed in $1,000 we're up on the BLS the Bureau of Labor Statistics a.gov website I'm not showing you stuff that I made up I'm showing you live websites as I'm making this video but from 2016 to 2020 it has the same buying poers $1,077 which is about a 7% difference but if you do the same thing here with $1,000 from October 2020 to July of 2024 that's as far out as the CPI will go uh equals $1,207 that's about 17% difference so if I go up on the BLS there's all kinds of charts data graphs you name it but this right here the inflation calculator is basically saying hey if you want to buy the same thing that you could buy four years ago this is how much more money you need versus back then here's another prime example pardon the pun retail ground beef prices by month we're up on National Beef wire the retail ground beef prices were at 521 in December down 14 cents from the month prior and up 41 cents from the same time last year this came out in January of this year but if I scroll down it gives a couple of good charts here uh retail ground beef prices from 2016 to 2019 again you can read between the lines but I'm just showing you the information so in January of 2016 average price 398 a pound and then in December 386 uh a pound in December of 2019 so it actually dropped but if I scroll up to this chart January of 2020 389 that's same number and go to December of 2023 521 it actually went up about $1.32 and here's the source here

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