THE INFLATION MYTH

EXPERTS SAY THE CPI OVERSTATES THE COST OF LIVING. BUT WILL THAT BE FIXED?

You're adding up the numbers again, trying to figure out how to pay the bills coming due, when a man from the bank calls with a message that seems too good to be true. That calculator you got as a free gift for opening your account was, er, flawed. It has been adding up your bills all wrong and leading you to underestimate how much is left in the checking account. You can pay what you really do owe without giving up the weekly movie.

A panel of five eminent economists delivered an equivalent message to the government last week. The...

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