Ethel-To-Tilly

The Perversion of American Capitalism

<i>Because of an extremely inaccurate new methodology of inflation calculation introduced by Bill Clinton</i>

Bald assertion indicating a political agenda always catches my eye. A very cursory Google easily uncovers that this change in methodology was specifically advocated by Greenspan and pushed by Speaker Newt Gingrich immediately upon assuming office after the Republican takeover of Congress after the 1994 elections. Said Gingrich, as quoted in The Washington Post (January 16, 1995), "We have a handful of bureaucrats who, all professional economists agree, have an error in their calculations. If they can't get it right in the next 30 days or so, we zero them out," transfer the job to the Federal Reserve or the Treasury, "and tell them to get it right." Several Democratic senators have taken issue with Gingrich, speaking out, as quoted by Associated Press (January 19, 1995), against "pressure exerted by politicians" and in favor of "careful study." (Quoted in The Consumer Price Index, the deficit, and politics. By Norwood, Janet L. (former head of the BLS during the Reagan and Bush 41 Administrations) Publication: Government Finance Review Date: Saturday, February 1 1997)

Just because something happened during the Clinton Administration, doesn't necessarily mean that it was "introduced by Bill Clinton". The fact is, the change in the methodology was specifically a Republican goal, and effected only after the Republicans flexed their political will. Baldly blaming it solely on Clinton only serves to hide the Republican culpability and calls into question the bias of the author as well as the validity of any conclusions as just another political hit piece.