Source: American Institute for Economic Research
Americans for a long time have felt what they are being told about inflation doesn't fit with their own experiences in paying monthly bills. Over the years the government has made a variety of “adjustments” in the Consumer Price Index (CPI), which minimize inflation. At a House Subcommittee on Domestic Monetary Policy, chaired by Congressman Ron Paul, on March 17, 2011, one of the experts who testified was Lewis Lehrman. He pointed out that if the CPI were calculated the way it was in 1980, it would show inflation at 8 percent.