Marketplace Morning Report Retiring just on Social Security
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Nov 25, 2025 In this discussion, Chris Farrell, a Senior Economics Contributor for Marketplace, dives deep into the harsh realities of living on Social Security. He highlights that without it, a staggering 37% of older adults would face poverty. Chris shares the story of James Chavez, a retiree in Durham, emphasizing how his $1,200 monthly benefit struggles to cover basic needs amid rising costs. The conversation also touches on the Consumer Financial Protection Bureau's new humility pledge and insights into consumer spending trends this holiday season.
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Bifurcated Consumer Spending
- Consumer spending continues but is increasingly bifurcated across income groups.
- Lower-income households feel squeezed while middle and upper incomes sustain spending, aided by higher prices.
Holiday Spending Fueled By Inflation
- Early holiday shoppers are out in force, but spending gains reflect higher prices, not necessarily more items.
- Inflation is driving some sales growth rather than pure volume increases.
Social Security's Partial Safety Net
- Social Security prevents deep poverty for millions; without it 37% of older adults would be below the poverty line.
- Even with benefits, about 10% of older adults remain in poverty, showing limits of the program.