Government lies; actual inflation at 10% and rising

With a little over a week to go before the November midterm elections, there is bombshell economic news that could potentially sway undecided voters.

The federal government has lied about the economy. In addition to the fact that joblessness is much worse than reported, as Conservative Examiner highlighted in several reports indicating that unemployment is actually between 22-25% and not at 10% as the Feds claim, it has been discovered that the government has also misled the public about the inflation rate as well.

Why is this important?

Senior Adults have already been informed that they will receive no cost-of-living increase in their Social Security checks for 2011--for the 2nd year in a row. The government's justification for this is that inflation has been at near zero, and thus, there has been no increase in the cost of living.

That statement is patently false.

In a report released by several government watchdog groups, one of which is American Business Analytics & Research, a thorough examination of the actual figures, along with an analysis of changes in the manner in which the government calculates inflation, reveals that the actual rate of inflation is 10 percent and rising, rather than the ridiculously low figure of near-zero as the Feds claim.

The government has changed the manner in which it determines the rate of inflation. Were the same methodology that was used in the early 1990s used today, the real rate of inflation would be 10 times higher than reported.

This means that Senior Adults are getting torpedoed yet again. Not only are they being slammed with higher premiums for Medicare supplement plans along with reduced benefits, thanks to ObamaCare, but now they are being expected to absorb an inflation rate of 10% without getting a cost of living raise to help.

The bottom line? America is in the depths of an economic downturn that is every bit as bad at the Great Depression of the 1930s. The only reason we are not seeing the same level of open suffering, bread lines, etc., is that the U.S. has since implemented programs such as unemployment payments, welfare, food stamps, and a host of other social safety net programs that were not available during the Great Depression.

This masks the dire nature of America's economic woes.

Interestingly, as with the 1930s, America has a President and a Congress that implement monetary policies and big spending programs that only intensify and prolong the economic downturn.

Be sure to catch my blog at The Liberty Sphere.

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