Obama’s Monetary Policy: Stick It to the Middle Class
Inflated federal egos drive real-world inflation ever higher.
March 26, 2011 - 12:00 am
ObamaCare alone has caused a nearly 40% hike in insurance premiums for individual policies such as the one my self-employed husband and I have. The Democrats’ save-the-deadbeats credit card law caused an immediate rise in interest rates for us always-pay-on-time consumers to cover the cost of the mandated write-offs.
Right here, in the real world, Obama’s monetary policy is starting to look like it has a bottom line screw-the-middle-class philosophy.
For the president’s information, the most dreaded word in every middle-class household’s budget confab is — all together now — INFLATION. And just because a few golden-boy hotshots in the jet set can somehow ignore the cost of groceries and gas when they do their little on-paper tallies of deceptive figuring does not mean that a real family can get by without taking these vital things into account.
When inflation drives up the cost of food to fuel the little human bodies sitting around the dinner table every night, then the family must get the money from somewhere else in the budget. Otherwise children go hungry. We don’t have money-printing presses in our living rooms.
When inflation drives up the cost of gas — and gas is necessary to get to work and school and all the other places we must go — then that extra money has to come from somewhere else. The yearly vacation, which has been cut down to a couple of days close by, has to go entirely. Or that summer camp we were planning to send the kids to is out. Or the braces will have to go on the credit card whose interest is way above “prime rate.” There isn’t a middle-class family in this entire country who does not live in dread of the I-word.
Inflation stalks like a thief in the night, filling the nightmares of homemakers and breadwinners alike.
Inflation is the invisible beast that steals the long-awaited raise before it has a chance to hit the bank account.
Inflation is the disease that ravages the arduously saved dollars of decades.
Inflation is the bandit that steals from the poor while hardly ever even noticed by the likes of the politicians who guilefully prod its crime spree.
Inflation is the monster who gobbles up the goodies of responsible citizens no matter their station.
So, when Obama and Bernanke and all the Fed gurus like Mr. Dudley put their little heads together and formulate a monetary policy, it would really be nice if they remembered — just once — that while the iPads and the Guccis and the golf clubs they love so much are simply wonderful if they cost a little less, the rest of us do have to worry about the rising cost of our groceries and our gas.
In our world, the necessities of life don’t get paid for with other people’s money.
We in the middle class pay the most taxes and fuel the government engine.
It would be nice if we weren’t told to eat our iPads when we notice that our government has set out to deflate the middle class.