The cost of living is up 4.3% over the last year yet wages are only up 3.9% is this good economics?

Question

So james, the Federal Government is putting out flawed numbers for what purpose?

Kunjaldp, not that its any of your business but last year I did get a new job and with it came a 21% pay increase, I make well over 5 times the current minimum wage.

Answer 1

not for poor people and people getting payed minimum wage.

Answer 2

The comparison is flawed. The consumer price index (from which the 4.3% figure comes) is based on urban consumers only, but the 3.9% figure is the average for the entire nation, most of which is not urban.

Edit: The numbers aren't flawed, they just don't measure what you think they measure. You're combining two statistics that shouldn't be combined. If you want to find out how wage increases are matching inflation, you have to compare data that covers the same geographic areas. It's a fairly simple concept.

Answer 3

Mr. Bush and Company for some reason refuses to talk about the in income distribution. Bush is so worried about economic growth that the little problem with the impoverishing of the middle class does not register to him. I wonder why?
Our cost of living keeps going up, and wages are not keeping pace so workers are forced to live in harder and harder times with fewer jobs, and this is all happening while giant corporations and their executives and stock owners live in style, high off he hog and owning a summer home in France and a yacht on the Bay.
But, "not to worry, remember how happy the poor where during the Hover Administration", they say to one another.
That is the new-conservative-republican Mecca, you know.
They actually believe if everything goes sour here at home, they will just move to France, Syria or even Italy where the beach's are wonderful and the military is small, small military means small taxes. "Good night, and good luck!"

Answer 4

It is the result of supply side economics's the rich continue to get richer while the working middle class slides back. Every time a repuglican gets into office he cuts taxes for the very rich and gives nothing to the middle and poor classes. Just keep voting those cork snorting alcoholics into office and sooner or later the middle class will rise up and take the country back from the right wing idiots.

Answer 5

Get out of your poor mentality. Be smart and get better job rather making minimum wages and then you won't have that problem.

Answer 6

No and it's only gona get worse for you guys in America once your Federal Reserve, which isn't government owned but is owned by private bankers, keeps printing money with no value.

Answer 7

not for those of us getting the 3.9% raises. It's Bush Economics 101.

Answer 8

Well considering half the budget this year in the U.S.went to The War Machine no wonder.

Answer 9

Good for business good for the Redpublican party.

Go big Red Go