That is bad news. I guess that I’ll start tightening my belt now. I’ve heard that the GOP intend to reclassify food as a luxury and not a necessity after they repeal Obamacare. That’s life in a GOP future.
Food is currently 12% of our family budget. With the projected 15% increase in food prices and the 1.7% increase in Social Security, our food expense will rise to 13.5%. Not a tremendous jump, but our other expenses are rising at a faster rate, particularly insurance. My wife and I are both delaying needed surgeries because we know our supplemental insurers will find some loophole or other to withhold full payment for our costs, even though we pay more for the supplement insurance than we do for Medicare itself.