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Thursday, August 28, 2014
Bell On Why Wages Are Down, Prices Are Up
Today, the Washington Post highlighted a report on rising inflation and the impact on consumers. The article, entitled “This is why it feels like the recession never ended” highlights the fact that the average cost of everyday goods has risen 15 percent since 2007 but that average wages have actually dropped since then. The Republican National Committee’s War Room blasted the article out to its members.
Jeff Bell, the Republican nominee for the U.S. Senate in New Jersey responded:
“The report demonstrates what the American people are experiencing: Their wages have decreased, but the cost of everyday goods has skyrocketed in the last six years. The American people are not buying that this economic malaise is the longed-for recovery.
“No one in Washington wants to talk about the cause of this problem -- least of all my opponent, Cory Booker. I am running for U.S. Senate because I know the cause of this problem and I have the solution.
“The reason why goods are more expensive but wages are being crushed is because of the Federal Reserve’s zero interest rate policy. My solution is to restore the value of the dollar by tying the dollar to gold. This will reign in the Fed and curb inflation, while bringing jobs and growth back to the economy.
“I am the only national candidate that has made this the goal of his campaign. The Republican National Committee has touted this report, but continues to freeze out my campaign.”