Inflation Is the Cruelest Tax of All
While President Obama and some other politicians are advancing various tax plans, Obama’s policies are decimating all Americans with the cruelest tax of all – inflation.
“So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent (editorial note - now actually 100%), according to data from the Bureau of Labor Statistics.
During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent.
When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon, an increase of 26 percent.
By May 2011, gas prices hit a high under the Obama administration at $3.93, about four percentage points away from the July 2008 high.
The U.S. city average retail price for one pound of 100 percent ground beef was $2.36 in January 2009. As of December 2011, that price had risen to $2.92—a 23.7 percent increase and a new peak. (Ground beef prices have risen every month since November 2009 – 26 months of price increases.)”
Everyone who shops for groceries knows what is happening at the cash register. Since the price of gasoline has doubled since Obama took office, the official statistics from the government seem bizarre:
CONSUMER PRICE INDEX – JANUARY 2012
“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.9 percent before seasonal adjustment….
The all items index has risen 2.9 percent over the last 12 months, a slight decrease from last month’s 3.0 percent figure. The index for energy has risen 6.1 percent over the last year and the food index 4.4 percent; both figures are slight declines from last month. The index for all items less food and energy has risen 2.3 percent, its largest 12-month increase since September 2008.”
It is not only the official unemployment rate that is suspect; who can believe this official Consumer Price Index? We can only hope that voters will remember what they are actually paying for gas and groceries when they vote next November.
This inflation is the direct result of the towering mountain of debt Obama is creating.