Hey didn't they do this before? WERE SAVED!
ttown
Posts: 4,472 ✭✭✭
Let's change the way the CPI is measured
Jim Sinclair’s Commentary
If you do not like what an Index is saying then the economic cure is to change the Index?
Trader Dan’s Commentary
Our nation is frickin’ doomed. These dishonest and unethical btards will do anything to keep the illusion alive.
This is nothing but government sanctioned theft of senior citizen Social Security benefits.
Change To Inflation Measurement On Table As Part Of Budget Talks –Aides
By Corey Boles and Janet Hook
WASHINGTON -(Dow Jones)- Lawmakers are considering changing how the Consumer Price Index is calculated, a move that could save perhaps $220 billion and represent significant progress in the ongoing federal debt ceiling and deficit reduction talks.
According to congressional aides familiar with the discussions, the proposal would shift how the Consumer Price Index is calculated to reflect how people tend to change spending patterns when prices increase. For example, consumers tend to drive less when gas prices increase dramatically.
Such a move is widely seen by economists as resulting in a slower rise in inflation. That would impact an array of federal programs that are linked to CPI including the Social Security program and income tax brackets set by the federal government.
The proposal could lower federal spending by around $220 billion over the next decade, based on calculations by last year’s White House deficit commission, which recommended the change as part of its final report.
According to two congressional aides familiar with the budget negotiations, the shift is being "seriously discussed" as part of the ongoing talks to strike a budget deal, that would be used to ease the passage of a required increase in the country’s debt limit.
Jim Sinclair’s Commentary
If you do not like what an Index is saying then the economic cure is to change the Index?
Trader Dan’s Commentary
Our nation is frickin’ doomed. These dishonest and unethical btards will do anything to keep the illusion alive.
This is nothing but government sanctioned theft of senior citizen Social Security benefits.
Change To Inflation Measurement On Table As Part Of Budget Talks –Aides
By Corey Boles and Janet Hook
WASHINGTON -(Dow Jones)- Lawmakers are considering changing how the Consumer Price Index is calculated, a move that could save perhaps $220 billion and represent significant progress in the ongoing federal debt ceiling and deficit reduction talks.
According to congressional aides familiar with the discussions, the proposal would shift how the Consumer Price Index is calculated to reflect how people tend to change spending patterns when prices increase. For example, consumers tend to drive less when gas prices increase dramatically.
Such a move is widely seen by economists as resulting in a slower rise in inflation. That would impact an array of federal programs that are linked to CPI including the Social Security program and income tax brackets set by the federal government.
The proposal could lower federal spending by around $220 billion over the next decade, based on calculations by last year’s White House deficit commission, which recommended the change as part of its final report.
According to two congressional aides familiar with the budget negotiations, the shift is being "seriously discussed" as part of the ongoing talks to strike a budget deal, that would be used to ease the passage of a required increase in the country’s debt limit.
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Comments
roadrunner
Yogi Berra
You bought a pound of spread for $1.00 as opposed to $2.00 so we now have 50% deflation. VIOLA!
What a country.
We have seen the last of COLA increases in SS payments.
Camelot
<< <i>It gets even better. Just a few years ago, I could get my teeth cleaned at the dentist for $75. Now it costs $150. But the dentist bought some new equipment that does the job better so I have a better smile. Therefore, the CPI cost index for the dentist has not doubled, it has actually gone down because of improved technology and my resultant better smile. >>
I bet you weren't smiling when you saw his prices double.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Liberty: Parent of Science & Industry
<< <i>Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets? >>
You may dress however you wish.
<< <i>
<< <i>Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets? >>
You may dress however you wish.
LOL
<< <i>
<< <i>Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets? >>
You may dress however you wish.
Baley wearing a corset while cracking a buggy whip---thanks for the visual.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Think of the improvements in heath, breathing the fresh air instead of contaminants.
I knew it would happen.
Liberty: Parent of Science & Industry
<< <i>Smoke and mirrors.... all in the name of bureaucrats scrambling to keep their jobs. Cheers, RickO >>
no kidding. we the sheeple.....
<< <i>They're missing the basic premise. It is a consumer PRICE index, not a consumer SPENDING index. >>
Amen, brother, amen!
Hasn't this already been done once? Maybe this is what they were talking about a few years ago. Doesn't matter does it? There isn't any inflation