Congress is helping older Americans at the expense of younger peers ...Middle East

It’s no secret that Congress’s budgeting priorities have favored older Americans at the expense of younger generations. That may be partly to blame for the generational gap emerging in consumer spending, detailed in a recent Bank of America Institute report which found that “older generations' spending growth is outstripping that of younger generations.” The research is based on credit card spending changes from May 2022 to May 2023. It concluded that cost of living (COLA) adjustments in Social Security for older households, along with higher housing costs and the pending end of a moratorium on student loan repayments, may have been responsible. In general, one year of data may indi

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