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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Tradelite who wrote (144671)1/18/2002 1:56:10 PM
From: Les H  Read Replies (2) of 436258
 
They is the government. I wasn't inferring that the BLS was political. In fact, they've disputed some of the claims about the need for downward revisions as purported by political committees.

There've been a series of changes to adjust the CPI downward in order to allow they to increase tax receipts and to provide more available budget for discretionary spending. This is a notice from 1996. Note that were more changes implemented according to recommendations from the Boskin report which targeted another 1.1 to 1.6 percentage point reduction in the annual increase since 1996.

How Changes To The Consumer Price Index Affect Your COLA

Despite rapidly rising demand, high oil prices, and extremely tight labor markets, inflation has stayed exceptionally low in recent years. According to the new report from the Congressional Budget Office, the Consumer Price Index (CPI) figures "represent inflation rates that are about a percentage point lower than they were during the first few years of the current expansion."

Between 1992 to 1995, the government began a series of changes to the way the CPI is calculated. These and other ongoing changes have produced a CPI that is growing more slowly than it would have prior to the changes in methodology. Research conducted for TSCL validates that the cumulative effect of the changes is a CPI that is about 0.8% lower in 2000 than it would have been prior to the changes. What effect does the difference in methodology have on your Cost-Of-Living Adjustment (COLA)? The study indicates that the average retiree may lose over $1,400 in COLA benefits between 2000 to 2004.
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