Obama Campaign Economic Policy Director, Jason Furman, on today’s Consumer Price Index Report...
Today, we got the truly shocking news that inflation hit a 17-year high of 5.6 percent as the prices of gas and groceries continued to soar. Families have now lost an entire decade’s worth of raises to inflation as weekly earnings adjusted for inflation lie below the level they reached in August 1998. While Senator McCain apparently thinks the economy is doing just fine, and refuses to support any meaningful, short-term relief for America’s struggling families, Barack Obama has proposed an Emergency Economic Plan that would immediately put $1,000 in the pocket of families to help them pay for gasoline, groceries and other necessities. In addition, the Obama plan includes $50 billion in immediate measures to save more than one million jobs from being lost. America cannot afford four more years of a policy that puts tax cuts for the wealthy and corporations ahead of the real change America’s middle-class families need.
Click here to learn about Senator Obama's plan to strengthen our economy.
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