According to the Bureau of Labor Statistics, $100 in 2014 has the same buying power as $99.94 in 2015. And get this – $100 in 2008 (the year Obama was elected) now has $109.89 in buying power.
If you don’t believe me, look it uips on www.bis.gov and search for the CPA Inflation Calculator.
So, in other words, the Obama Administration essentially says there is little or no inflation America.
The U.S. Department of Labor Statistics changed how the Consumer Price Index was estimated officially in January of 2015.
The government is manipulating the inflation rate to make Obama look good.
If you trust what the Obama Administration says about inflation, it is always under 2 percent – but that’s with food and energy stripped out.
There’s the rub.
I do some of the grocery shopping for our family and I can prove that food costs more than it did last year, the year before and the year before.
Not too long ago, you could buy hamburger for $1.99 a pound. The same groceries and box stores now sell ground beef for as much as $3.99 a pound.
T-bone steaks that sold just a few years ago for $4.99 a pound are now $8.98 a pound – on sale.
Beef is so very expensive that stores are pushing cheaper cuts and putting pork and chicken on sale because beef doesn’t fit into a normal family budget. A pound of bacon that used to cost $1.99 now costs $4.00 and the size of the package has dropped to 12 ounces.
And it’s not just beef. Have you bought a can of tuna lately? They are mostly water. You have to buy abalone and those cans, while the same size as traditional tuna cans, cost twice as much.
It wasn’t too long ago that you could buy milk for $1.99 a gallon. Now it’s over $4.
A 12-pack can of pop – even the major brands – used to go on sale for $1.99. Now they cost more than $4 and it’s a great sale if they come close to $3.
The price of honey has gone through the roof. Oreo cookies that once cost $1.99 a package are now $3.50 on sale.
I joked to my wife the other that I was getting stronger in my old age because I can now carry $100 worth of groceries with ease.
And these prices are reflected in restaurants.
Ken Staley of KCFO AM970 and Tom McCloud of Community Spirit magazine and I eat breakfast together every Friday. We have for more than a decade.
After years at the same family restaurant, we switched to McDonalds because breakfast was beginning to cost $18 for bacon and eggs and coffee.
For Mother’s Day, my son took his Mom and me out to dinner at a modest, chain Italian restaurant. We ordered water and no dessert. The bill plus tip was $70. Ouch.
And portions at some restaurants are getting smaller and smaller. One seafood chain has TV commercials that show these big platters but when you order them, they are a lot smaller than they used to be. I ordered some fish and chips at a takeout restaurant and I took my order back because the portions were so undersized. The embarrassed employee said that’s how big they were making them these days.
The only break that consumers have had under Obama was the drop in gasoline prices in the last year. But those are still higher than the price of gas when George W. Bush was president.
I don’t know how poor people or young families make ends meet. Under Obama, wages haven’t gone up and under our current Tulsa government, fees and utility payments have skyrocketed.
I can remember during the 1970s when Jimmy Carter was president and we has double-digit, “galloping” inflation. Mortgage rates were 13 percent or higher and the cost of everything rose constantly.
But at least back then, the government didn’t lie to disguise the problem of inflation.