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Forget the modest 3.1 percent rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.
The not-for-profit research group measures inflation without looking at the big, one-time purchases that can skew the numbers. That means they don't look at the price of houses, furniture, appliances, cars, or computers. Instead, AIER focuses on Americans' typical daily purchases, such as food, gasoline, child care, prescription drugs, phone and television service, and other household products.
The institute contends that to get a good read on inflation's "sticker shock" effect, you must look at the cost of goods that the average household buys at least once a month and factor in only the kinds of expenses that are subject to change. That, too, eliminates the cost of housing because when you finance your home with a fixed-rate mortgage, that expense remains constant until you refinance or move. The group maintains that this index better measures the real-world impact of price changes, particularly for people on a budget. And, largely as the result of the recent run-up in gas prices, this "everyday price index" (EPI) suggests that Americans are being pinched far more tightly than the official inflation measure would have you believe.
Over the past year, the EPI is up just over 8 percent, according to the economics group. The biggest factor: Motor fuel and transportation costs are up 21.06 percent from year-ago levels. The cost of food, prescription drugs, and tobacco also have increased faster than the government's inflation measure, rising 3.56 percent, 4.21 percent, and 3.4 percent, respectively.
So you're calling the Obama administration a bunch of LIARS?
Then I guess in all fairness we should tie Social Security cost of living increases to the higher, 'real', rate.
So you're calling the Obama administration a bunch of LIARS?
And the Bush, Jr. Administration. And Clinton. And Bush, Sr. And Reagan.
The chart goes back to 1987.
Then I guess in all fairness we should tie Social Security cost of living increases to the higher, 'real', rate.
Right after we add means testing, raise the retirement age, and completely fund the trust fund.
Inflation higher than you think.
The CPI is not an accurate measure of inflation, someone anyone who is not rich realizes every time they go shopping.
And the theory that "SUBSTIUTION" needs to be taken into acount when computing CPI is a perfect example of how state economists are moving the goalposts to obfucate the truth.
If steak cost X dollars one week, and it cost $X + Y dollars the next week, claiming that substiuting hamburger for steak means there was NO PRICE RISE is intellectual hooey!
Pretending that fuel prices are somehow not part of the cost of living, or that those rising prices are captured in everything else is another example of the flim-flammery of our reporting agencies.
Then I guess in all fairness we should tie Social Security cost of living increases to the higher, 'real', rate.
Right after we add means testing, raise the retirement age, and completely fund the trust fund.
Let's see.....we've already raised the retirement age so that leaves completely funding the trust fund. And I propose that we eliminate the earnings cap and then increase taxes to cover the shortfall.
What kind of means testing would you like to see?
So you're calling the Obama administration a bunch of LIARS?
And the Bush, Jr. Administration. And Clinton. And Bush, Sr. And Reagan.
The chart goes back to 1987.
Amazing how that works, isn't it? Yes inflation is somewhat higher than stated for most people. There really is no argument to that, but the system currently used is the same as has been used through past administrations, as you pointed out.
So? Raising the retirement age does what? Perpetuates the ponzi scheme that much longer doesn't it?Then I guess in all fairness we should tie Social Security cost of living increases to the higher, 'real', rate.
Right after we add means testing, raise the retirement age, and completely fund the trust fund.
Let's see.....we've already raised the retirement age so that leaves completely funding the trust fund. And I propose that we eliminate the earnings cap and then increase taxes to cover the shortfall.
What kind of means testing would you like to see?
Then I guess in all fairness we should tie Social Security cost of living increases to the higher, 'real', rate.
Right after we add means testing, raise the retirement age, and completely fund the trust fund.
Let's see.....we've already raised the retirement age so that leaves completely funding the trust fund. And I propose that we eliminate the earnings cap and then increase taxes to cover the shortfall.
What kind of means testing would you like to see?
Right after we add means testing, raise the retirement age, and completely fund the trust fund.
Let's see.....we've already raised the retirement age so that leaves completely funding the trust fund. And I propose that we eliminate the earnings cap and then increase taxes to cover the shortfall.
What kind of means testing would you like to see?
Damn good question. One thing I know, if you can afford a private jet you don't need SS or Medicare.
