Saturday, July 16, 2011

Everything you need to know in one sentence...

...about what's important to The People In Charge.

At a hearing of the House Ways and Means Committee about Social Security earlier this month, eminent economist Sylvester Schieber was asked to explain chained-CPI. He said:
"If the price of a Mercedes goes up … maybe you don't buy the Mercedes, you switch and you buy an Audi or something."
Or something.

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