Republicans are stirring up anxiety over the national debt. A consequence of the debt is inflation, but I haven't really noticed inflation that much.
Yes, home values and rents have skyrocketed over the past few decades.
Inflation of other prices has been more modest until after the pandemic when it did tick up some. Wages have gone up also. I've noticed somewhat higher prices for restaurant meals, food and consumer goods, but seems like these things are mere pocket change compared to rent or healthcare costs.
My rent is held at a bit below 40% of my income as I am in subsidized housing. Medicare covers most of the cost of my health insurance premiums. The Medicare premium is much lower than it would be if Medicare wasn't subsidized by government.
I have no car.
Other expenses do seem like mere pocket change to me. Everything else is around half my income, but I haven't noticed inflation that much. My Social Security has had a generous cost of living increase due the inflation.
If the economy crashes, everyone could be a lot worse off.
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