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Politics : View from the Center and Left

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To: Dale Baker who wrote (125957)	12/1/2009 4:39:58 PM
From: Katelew	Read Replies (1) of 542229

Dale, I don't think this was a deflationary year for retirees. And the deflation we had, i.e. lower house prices and lower portfolio values, are not of any value to retirees....quite the opposite. Excluding home prices, I would say 2009 has actually been a slightly inflationary year on average, and definitely an inflationary year (mainly medical costs) for the retired. Yes, I know Geithner and Bernanke, decreed this to be a deflationary year. Actually they did this back in Feb. which is rather bizarre. But decreeing it doesn't make it so. The thing that makes me mad about the COLAs is that I believe in shared sacrifice. I had assumed that the O admin would raise taxes on the wealthy back to the Clinton levels and decrease military spending back toward the Clinton levels. So far the only sacrificing seems to be directed toward the retired.

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