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Ed Butowsky has written extensively on the threat to our economy when politicians have deliberately and repeatedly miscalculated the Consumer Price Index (CPI), the government's primary measure of inflation. Butowsky wrote during Budget season last April for TheBlaze:
Once again, both political parties are supporting legislation that will alter this calculation against Americans’ interests. While the government claims that inflation is “under control,” in truth, prices on the top 500 items we actually spend money on is rising 9-10% annually!
Annual wage increases and corporate defined-benefit pension plans’ monthly payments tied to the CPI. If the CPI is less than the true cost of living increase that Americans endure each year, then most Americans will lose purchasing power each year. If the CPI doesn’t reflect how much more it costs to live from one year to the next, anyone whose lives are impacted by CPI-linked income increases will find it more difficult to keep a consistent lifestyle from one year to next. Slowly but surely, they will fall into financial hardship. When this occurs, they will find their last resort to make ends meet will be to rely on government assistance.
Butowsky joined "Wilkow!" Tuesday to discuss health care costs and why "the CPI is bogus."
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