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Looks like the FDIC coverage limit was raised to $250,000 in 2008 and made permanent in 2010, before that it was $100,000 since 1980. https://americandeposits.
by zackmorris 4y ago
Looks like the FDIC coverage limit was raised to $250,000 in 2008 and made permanent in 2010, before that it was $100,000 since 1980.
https://americandeposits.com/history-and-timeline-of-changes-to-fdic-coverage-limits/ https://americandeposits.com/history-and-timeline-of-changes...
Plugging that into any online inflation calculator, $1 in 2010 is $1.33 in 2023. So FDIC insurance should really cover $333,000, and people could lose $83,000 or more due to coverage not being raised.
This is one of 1000 examples of how deregulation and defunding government programs often backfires on the people calling for it. It's almost like the people who casually deal in hundreds of thousands of dollars don't know the value of the dollar, because they got that money by skimming it from their employees.
- cjbgkagh 4y ago'Bracket creep' almost never works in your favor and that is by design. The government knows perfectly well how to peg things to inflation.
- dylan604 4y ago>how deregulation and defunding government programs often backfires on the people calling for it You make this sound like the avg citizen called for this, because this is who gets screwed in these situations. The heads of banks and the banking industry called for it, and not one of them will even notice the blip in their lives.