Wages not keeping up with pace of inflation

[Geee]

Washington Times:

American workers are getting squeezed, not able to get ahead because anemic growth in their wages is not keeping up with the fast rise in prices for food, fuel and other necessities.

Surveys show meager growth in average wages of 1.7 percent in the past year, while surged in gasoline and food prices have pushed the inflation rate to more than 2 percent. Growth in other sources of income such as rents, interest and Social Security also has been weak or nonexistent.

The result: Typical workers are no longer able to keep up with the rising cost of living — something they managed to do even during the recession. Retirees with fixed income are in worse shape because they did not receive even a cost-of-living adjustment in their Social Security benefits last year.

Robert Robinson, a Texas retiree, is distressed that even Wal-Mart — the discount retailer known for undercutting other stores on prices — has been raising prices willy-nilly in recent months.

“Wal-Mart raised the price of canned soup by 25 cents from $1 across the board, and raised the price of yogurt by 8 cents. Milk at Wal-Mart is nearing $5 a gallon, and the cheapest loaf of bread is more than $2,” he said.

[AceRimmer]

Who is not surprised that after the Fed started printing money as fast as it could that inflation would follow? Only someone as arrogant and economically dumb as Obambi could not see the ghost of Jimmy Carter's disastrous one-term reinventing itself just in time for 2012.

[Pepper]

Obama, divorced from reality, lamented fact that this weekend if the government gets shut down, people can't go to National Parks?

 

Who has a job let alone a job that pays enough to go far!ing around a national park this year?

 

 

Call the whaaaaaambulance.