New military “raise” actually a pay cut, thanks to inflation

While the 2022 National Defense Authorization Act authorizes a 2.7% raise for servicemembers, it won’t be a raise at all- with rising inflation, that 2.7 percent is actually a pay cut.

The 2022 NDAA, which was signed by President Joe Biden on Monday, offers servicemembers no comfort as prices for consumer goods continue to rise.

As inflation continues to drive down the value of the US Dollar, 2021 has seen the cost of food rise 6.1% and the price of gasoline jump 58.1%.

According to Fox Business, American Enterprise Institute Senior Fellow John G. Ferrari noted that such spikes have been unheard of for some time.

“The situation is serious now because we have not seen this level of inflation in decades,” he said on Tuesday.

Ferrari, who was once a major general in the US Army, specializes in defense budget research.

The former flag officer noted that lower enlisted will likely suffer the most.

“For Troops at the lowest part of the pay scale, the cost of gas and food may drive some deeper into debt, or they may rely more on food banks,” Ferrari said.

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