Inflation is the weapon
To The Editor:
America is at a crossroads. Most Americans are now living from paycheck to paycheck and have no savings nor do they own either stocks or bonds. Worse yet, the major part of the U.S. population is deep in debt with their credit cards to the tune of over $10,000.
On the government side of the equation, things are far worse. The national debt is now almost $17 trillion, placing a debt burden of $53,355 on every American. Projected debt to 2020 is $22 trillion. Projected Obama-care spending is slated to increase to $1.6 trillion in 2013. Projected Medicare spending due to changes in population age and the projected additional 20 million illegals will rise from 3.8% to 6.9% of the GNP.
Unemployment, which is now “unofficially” at 24.7%, will show no dramatic improvements over the coming three-and-a-half years due to Obama’s failed economic policies. Obamacare will increase public participation in the single payer health insurance plans that are charged to individuals at less than half of the cost of providing the service. Overall costs will therefore (via taxes and fines) skyrocket in the coming three-and-a-half years to double those reported by the current administration.
Related facts that remain unreported are: The purchasing power of the dollar has fallen 81% since 1974. Purchasing power of the dollar from 2002 to 2013 (Bush and Obama) in just 11 years has fallen by 35%. Inflation has gone up by 500% in just 42 years.
In commodities, price increases over the last four years are as follows: eggs +73%, coffee +90%, peanut butter +40%, milk +26%, white bread +39%, spaghetti +44%, orange juice +46%, beer +25%, wine +60%, electricity +42%, margarine +143%, tomatoes + 22%, turkey +56%, ground beef +61%, and gasoline +158%. This indicates a dollar inflation rate of 60.5% or over 15% annually for the past four years on these staples. The government departments in turn report that as only 1.5% annual increase, or approximately one-tenth of the actual rate of inflation.
The reason for this false reporting is related to the government’s ability to meet its payroll obligations. All government employee contracts are tied to inflation, as are most large union contracts. The government can’t afford to give its employees a 15% pay hike. In fact, according to the Treasury Department’s own statistics, the government has changed the way it calculates inflation 20 times since 1978.
We are witnessing the planned systematic takeover of the greatest nation in the world. How is this possible? It is seated in the development of a Big Brother Nanny State, with its own social, economic, and political agenda to replace our cherished democratic institutions with a socialist, all-powerful state beholden to no one except itself.
Bit by bit, the screws are being tightened with inflation serving as its weapon against democracy. Karl Marks, you have arisen and returned to us from the grave.