[Hoot Gibson]

More evidence that Barack Obama is Jimmy Carter II, and that characterization may be more of an insult to Carter than to Obama. If President Obama was a Republican, I believe that stories like this would be getting front page treatment and we would be seeing regular reports on the Misery Index.

A nation cannot continue to escalate the level of deficit spending and avoid severe inflation. Nor can simply changing the way that inflation is measured make it disappear.

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Inflation Actually Near 10% Using Older Measure

After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI back near those levels.

Inflation, using the reporting methodologies in place before 1980, hit an annual rate of 9.6 percent in February, according to the Shadow Government Statistics newsletter. Read rest of article

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