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Political Factoid
The political con artists of Washington want
to use "chained CPI" (Consumer Price Index) when
calculating inflation which, in turn, is used to
calculate "cost of living" adjustments, e.g., for
figuring Social Security and other benefits.
Those who advocate "chained CPI"
assume that people tend to willingly
and automatically do with less.*
- Drive less when gas prices rise.
- Buy cheaper cuts of meat when meat prices rise.
- Wear clothes longer and buy cheaper clothes
when clothing prices rise.
- Set their furnace thermostats lower when heating
prices rise.
- Set their air conditioner thermostats higher when
electricity prices rise.
- Avoid going to the doctor when health care costs rise.
- Stop having dental cleanings and checkups when
prices go up.
- Watch TV less when cable costs rise.
As such price increases are of no significant
consequence, they should not be included in any
calculations of inflation.
| * |
And as prices continue to rise, people will automatically
do with less and less, until they are doing without.
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