Okay, the mythical 1.7% figure doesn’t include food or fuel, you know, the stuff that keeps us warm, fed and well lit. Add in food and fuel and tell me again about inflation. Bread is $4 a loaf, medium quality beef is $8/lb and gas is twice what it was when W left office.
Yes it does.
I guess food and gas are 3 times what they were a few short years ago due to something other than inflation. They just happen to cost way more for some odd reason.
“Okay, the mythical 1.7% figure doesn’t include food or fuel, you know, the stuff that keeps us warm, fed and well lit.”
In addition, government inflation accounting assumes you will change your buying habits in response to rising prices. If you drive a full size car and when it comes time to trade you find the full size vehicles have increased in price you’ll buy a mid size. By government inflation accounting rules that may actually result in a decrease in price. Same thing with housing, you’ll move from a 2000 square foot home to a 1500 square foot home. When you buy detergent at the grocery store you’ll switch from Tide to the store brand. As a result of these decisions to “trade down” on your purchases your household rate of inflation is diminished.
The sad truth in America today is average household incomes are declining for the first time in our history and inflation is rising rapidly. If there was a true opposition party it would be screaming this fact everyday. As James Carville said when orchestrating the 1992 Clinton victory over Bush I, “It’s the economy stupid.”
For some reason the Republican Party does not want to rub the state of the economy in Obama’s face. Romney was pathetic on this issue during the campaign. Why aren’t Boehner, McConnell, McCain, Graham, Ryan, Rubio, Christie, Rove, and the rest of the Republican leadership pounding the economy drum, including the deceptive statistics, everyday? It must be they either support the ruinous economic policies or they are fat dumb and happy satisfied with being the minority party.
“Okay, the mythical 1.7% figure doesn’t include food or fuel, you know, the stuff that keeps us warm, fed and well lit.”
In addition, government inflation accounting assumes you will change your buying habits in response to rising prices. If you drive a full size car and when it comes time to trade you find the full size vehicles have increased in price you’ll buy a mid size. By government inflation accounting rules that may actually result in a decrease in price. Same thing with housing, you’ll move from a 2000 square foot home to a 1500 square foot home. When you buy detergent at the grocery store you’ll switch from Tide to the store brand. As a result of these decisions to “trade down” on your purchases your household rate of inflation is diminished.
The sad truth in America today is average household incomes are declining for the first time in our history and inflation is rising rapidly. If there was a true opposition party it would be screaming this fact everyday. As James Carville said when orchestrating the 1992 Clinton victory over Bush I, “It’s the economy stupid.”
For some reason the Republican Party does not want to rub the state of the economy in Obama’s face. Romney was pathetic on this issue during the campaign. Why aren’t Boehner, McConnell, McCain, Graham, Ryan, Rubio, Christie, Rove, and the rest of the Republican leadership pounding the economy drum, including the deceptive statistics, everyday? It must be they either support the ruinous economic policies or they are fat dumb and happy satisfied with being the minority party.