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posted by jimsimons in Money / Career

Was 1.7% the 2012 inflation rate?

February 1, 2013

Social Security recipients are getting a 1.7% increase in their benefit payments for 2013 to keep up with"the cost of living".
But, what is the real COLA based on the "inflation rate"?
Since 1913 when the Federal Reserve was created the value of the dollar has declined 95%. If we calculate inflation the way the government did in 1980 the rate is 10%. The 1990 method of calculation gives a rate of 5.5%. This is why people don't trust "government". Our founding fathers didn't trust this Leviathan.
The "Reality" is that people owe their allegiance to the Constitution not the government. Our Constitution was written to control our self serving politicians. However since they have the power to create benefits they do so in order to buy votes. They borrow in order to pay these benefits. These mounting I.O.U. s are claims against those who have assets and income. If these political payoffs are to continue the Debt Ceiling must be raised and it will be. Once our right to bear arms has been canceled we will be enslaved to work for the recipients. What say you?
js

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