Soaring Bidenflation Forcing Older Americans To ‘Unretire,’ New Poll Finds

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The Baby Boomer generation stretched from 1946 to 1964. That means members are now 59 to 77 years old, and nearly 10,000 Boomers reach retirement age — 65 — each day.

But in the age of President Joe Biden — with inflation soaring double digits, interest rates skyrocketing, and investment portfolios sagging — a lot of those older Americans are being forced to “unretire.”

“Unfortunately, the inflation-driven affordability crisis and the Federal Reserve’s interest rate hikes meant to combat inflation have driven housing costs higher,” USA Today reported this week. “As a result, retirees are moving back into the labor force. According to a survey by Paychex, 55% of retirees who went back to work said they did so because they needed more money, and 1 in 6 retirees is considering returning to work.”

“Most would want to work full-time (65%) instead of part-time (35%). This could be due to a need for more money — the reason cited by 53% of respondents,” Paychex reported. Some 55% of retirees went back to work because they said they needed more money.

The endless crunch since Biden took office — inflation soared 9.1% in June 2022 year-over-year and housing costs were 8.1% higher in April compared to a year earlier — has pinched seniors. Of course, Biden and Democrats have done nothing to address skyrocketing health care costs, which means older Americans are being hit from every side.

Plus, Biden and congressional Democrats passed the so-called Inflation Reduction Act, which didn’t offer a bit of help for the rising cost of food, housing, or energy prices. The latest debt deal passed on Wednesday will also deliver no relief whatsoever.

It’s been a perfect storm hammering seniors. Along with the soaring cost of living, “many older adults find themselves in deteriorating financial positions due to massive stock market losses in 2022,” USA Today reported. Last year, more than $12 trillion in wealth disappeared as the Dow dropped 8%, the S&P 500 19.4%, and Nasdaq 33%.

An AARP survey late last year found more than a third of people 65 and older said their current financial situation at midyear was worse than a year before. That represented a massive jump from the beginning of 2022, when just 13% of that age group said so.


To keep pace, Social Security and Supplemental Security Income (SSI) benefits were increased 8.7% at the beginning of 2023, but even that hasn’t been enough.

This is the danger of having a senile, out-of-touch president who has no clue what living in America is all about. Biden became a multi-millionaire while serving in the Senate and now has chefs — paid for by you, of course — prepare his every meal. He doesn’t have a clue what a dozen eggs or a gallon of gas costs.

And just so you know, there’s no help on the way. In Biden’s America, you’re on your own, and he’s not even going to try to fix anything.

The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.

Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent for a national newspaper. He was also the a.m. editor of the Drudge Report for four years. Send tips to [email protected] and follow him on Twitter @josephcurl.

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The Daily Wire   >  Read   >  Soaring Bidenflation Forcing Older Americans To ‘Unretire,’ New Poll Finds