CES

Retiree Income Data Point of the Day

Health Insurance costs 2009: Social Security deducted $96..40 x 12= $1156.80 from my check and same for wife. Humana charged $18 x12= $216.00 Total for wife and myself was $2745.60.

Health Insurance costs 2010: Social Security to deduct $111.00x12= $1332 from my check and same for wife. Humana to charge $55x12=$660.00 Total for wife and myself will be $3984.

The $1238.40 increase is 45% jump.

Why Is Paul Volcker Being Ignored?

People who had money back in Volcker's day loved the high, 15 or 18%-I forget which, interest rate on savings and they thought he was fine. He put untold number of businesses out of business, the unemployment rate skyrocketed and it was a hard time. He broke inflation and nearly broke the economy doing so.