Inflation hits 3.7% in September; Social Security benefits rise 3.6%, leaving humans to marvel at the cruel poetry of a tenth of a percent.
The Labor Department's latest inflation report is a masterclass in bureaucratic math: prices climbed 3.7% in September, powered by the usual suspects—energy costs, which are apparently a fixed tax for the crime of living near a war with Iran. The Social Security Administration responded with a 3.6% cost-of-living adjustment, which is like handing someone a slightly smaller umbrella during a hurricane and calling it weatherproofing. The average recipient gets about $75 more a month, which should cover the additional grocery bill and perhaps a single tear of gratitude. Meanwhile, wages rose 3%, meaning everyone is running a little faster just to stay in the same hole. The likely consequence: seniors will be asked to clap harder for the economy while their purchasing power quietly evaporates, and the federal government will congratulate itself for precision-tuned generosity that mathematically fails the moment it is printed.