Does anyone in the media ever actually look at the numbers?

The Social Security Administration says based on the numbers given them by the Dept of Labor’s BLS folks, the Social Security beneficiaries receive no increase.

OK – but look at the numbers. We will ignore for now the need for a CPI-E for the elderly – which exists over at BLS – to be used by SSA. And we will ignore the lie that is Greenspan’s "substitution" reduction to inflation because you can replace a steak dinner that has increased in price with a night out at MacDonalds. Indeed we will ignore the "quality improvement" decrease to inflation that Seniors get because those new computer purchases this year get a larger hard drive than last year standard machine in the standard base price that was unchanged – but now counts as a decrease to inflation.

The standard CPI – the one that is reported by the media – had a Sept value of 629.751 in 2008, 646.887 in 2009, and 654.346 in 2010.

The Urban Worker (why is a worker index used for the retired you ask – well think of the effect of medical inflation on a 20 year old that is healthy compared to medical care inflation on the retire – even after Medicare pays) index CPI-W that is used for Social Security retirees because it is lower do to the lower weight given medical costs had a Sept value of 214.935 in 2008, 211.322 in 2009, and 214.306 in 2010.

Look at the numbers – doesn’t the 2009 CPI-W number scream rethink and recalc? It does not fit the CPI-U pattern. Have they already factored in our diet change to catfood?

papau

papau

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