CCV Exposé:

Decline of the U.S. Dollar

 

Economists recognize that there is a significant correlation between deficit spending by government, and inflation—i.e., the gradual decline in purchasing power of currency. Data which establish the history of the decline of the U.S. dollar has been compiled by a variety of groups and agencies and is today easily available at most libraries or Online. Our figures show the largest deficits in U.S. history under President George W. Bush.

CCV investigation showed:

 

What cost $100 in 2000

             —would cost $113.47 today.

 

What cost $100 in 1964

             —would cost $630.32 today.

 

What cost $100 in 1930

             —would cost $1,170.06 today.

—Source: U.S. Bureau of Labor Statistics, The Inflation Calculator, www.bls.gov/.

 

Commodities Price Index: Then and Now:

                                 June 2000           June 2005

500 KW Electricity         $47.50                $ 53.92

#2 Fuel Oil, Per Ga.            1.25                     2.17

Gas Unleaded, Per Ga.        1.59                     2.32

Bread, White Per Lb.            .94                     1.07 

Ground Beef, Per Lb.          1.95                     2.54

Whole Chicken, Per Lb.      1.09                     1.07

Eggs, Grade A, Lrg, Pdz       .87                   1.17

Orange Juice, 12 oz.           1.88                     1.83 

Red Delicious Apples           .94                       .97

Coffee, Ground Roast         3.45                     3.33 

             National Average Price Increase:   $ .90

 

Investments:                               Y2000                In Bush Dollars

Car Purchase:                  $20,000             $  22,694.00

Home Purchase:              $125,000           $141,837.50

Cost of College:              $50,000             $  56,735.00

Groceries:                       $125                  $       141.85

 

U.S. Budget Deficits Under Presidents:

 

             Reagan:                          In Billions of Dollars:

                          1983:                  -207.8

                          1984:                  -185.4

                          1985:                  -212.3

                          1986:                  -221.2

             Bush I:

                          1990:                  -221.1

                          1991:                  -269.3

                          1992:                  -290.3

             Clinton:

                          1993:                  -255.1

                          1994:                  -203.2

                          1997:                    -21.9

                          1998:                  +69.2   (Surplus)

                          1999:                  +125.5         “

                          2000:                  +236.2        “

             Bush II:

                          2002:                  -157.8

                          2003:                  -377.6

                          2004:                  -412.1

 

Source: Congressional Budget Office

http://www.cbo.gov/  “Historical Budget Data”.

Carolina Civic Voice

                                    Summer 2005 Vol  5, No 3