Bernanke & Obama Defraud Seniors

Because they have cooked the books and denied inflation, senior citizens haven't had a cost of living increase since Barack has become President even though gas and food prices continue to climb.
Democrats don't care about old people, but keep throwing money to their banking buddies on Wall Street.

This is an interesting idea, that doesn't get much attention. I believe the Gov't is going to continue to cook the numbers and indexes to inflate our way out of the debt problem, only the cooked indexes and low interest to finance gov't debt are a secret tax on the middle class! CLASS WARFARE by the DEMOCRATS! haha

Savers and fixed income retires have already been "taxed" with 0% interest rates on their savings. I know I have lost many thousands in the past 3 years.

I agree they are cooking the books on this issue but Obama and Bernanke hardly "invented" it. It's been going on for quite some time. Anyone who thinks the "official" cost of living index has had anything to do with reality for at least a decade needs their head examined. It excludes most of the stuff you need to pay for if you want to keep "living"!

I think it's just become much more noticeable now because inflation is accelerating, particulary with food and gasoline.

I think part of the debt ceiling talks includes new ideas of changing the CPI index and other indexes such as those defining tax brackets. So it is something new, or at least a change to something that exists now.

They have actually floated a trial ballon about a chained CPI so that inflation would be based on a five year moving average instead of just one year. This way they can use the deflation of the past couple years to hold down COLA's again. Expect them to adjust the basket too so that housing, in deflation mode right now, counts for more than gas and food.

Love the balls and the honesty from Joe Walsh congressman calling out Obama on his lies to seniors. it is totally true!

[youtube:34vzrxyw][/youtube:34vzrxyw]

SS109 wrote: They have actually floated a trial ballon about a chained CPI so that inflation would be based on a five year moving average instead of just one year. This way they can use the deflation of the past couple years to hold down COLA's again. Expect them to adjust the basket too so that housing, in deflation mode right now, counts for more than gas and food.

Five year moving average? Yikes, can you imagine what would happen if we got massive inflation, 50% or more over a couple of years. Seniors wouldn't even be able to afford dog food to eat.

One thing is for sure, politicians don't start talking about tinkering with the CPI unless they KNOW there is going to be a problem with inflation.

AspenValley wrote:

SS109 wrote: They have actually floated a trial ballon about a chained CPI so that inflation would be based on a five year moving average instead of just one year. This way they can use the deflation of the past couple years to hold down COLA's again. Expect them to adjust the basket too so that housing, in deflation mode right now, counts for more than gas and food.

Five year moving average? Yikes, can you imagine what would happen if we got massive inflation, 50% or more over a couple of years. Seniors wouldn't even be able to afford dog food to eat.

One thing is for sure, politicians don't start talking about tinkering with the CPI unless they KNOW there is going to be a problem with inflation.

Well according to Obama, we commoners don't pay attension to stuff like that (elite speak for we don't understand it) so messing with the books is easy since we are no more than children in their eyes.