Newsweek’s Daniel Gross explains the Consumer Price Index (here’s the official BLS site) in a very simple video. I could do without the goofy sound effects, but it’s a good, 2 minute explanation of how the government tracks inflation.
Per David Simon’s Berkeley talk, though, the video doesn’t go into why this matters. Perhaps they’ll cover that in the next installment of the Economics 101 series.
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Something else the press never seems to comment on. Bush is constantly moving the goalposts because he doesn’t want to admit failure. I wish people would take an honest look at this and criticize the President for this dishonesty.
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