Elder Fraud Cases Surge in the US as Senior Citizens Lose $3.4B in Scams

In the United States, it is no secret that the quality of life within the nation has staunchly deteriorated over the last several years. Indeed, since the 2020 presidential general election in November of that year in which the long serving public politician Joe Biden defeated the 45th president of the United States Donald Trump, the union has been engulfed in significant economic, social, cultural, and political problems at nearly every level of governance. At the beginning of Bidens term, massive spending packages were passed and promoted by his administration and Democrats in congress (along with many Republicans in the minority). These packages directly resulted in massive levels of inflation which peaked in late 2022 at levels not experienced since the 1970s. The cost of basic necessities like food, energy bills, and other household items have skyrocketed to such an extent that ordinary Americans are truly struggling to make ends meet.

What’s worse, as inflation has remained a serious thorn in the side of most Americans, wages have largely continued their trend of stagnation. While the power of the dollar has been on the decline for decades and the real buying power of the American dollar has basically flatlined for a while, new reports suggest that inflation and cost of living increases have now outpaced wage growth over the last several years. Truly, people are struggling- especially those on fixed incomes in retirement or young people attempting to begin their professional careers and independent adult lives.

The rise of the internet has created many great things, but it has also increased humanity’s capability for wrongdoing. As people continue to feel economic hardship, scam and fraud cases online have skyrocketed. Elderly individuals are easily targeted in these cases, as they are the least likely to spot a scam on the internet when one is apparent. Things are truly not “all good” in the union and time will tell how things develop.