(Mr. PAUL asked and was given permission to address the House for 1 minute.)
1997 Ron Paul 28:1
Mr. PAUL.
Thank you, Mr. Speaker. Using the CPI to measure cost of living adjustments is nothing more than a feeble attempt to measure dollar depreciation. This is no more accurate than using stock and bond prices to measure inflation.
1997 Ron Paul 28:2
I have a lot of reservations and think we are making a serious mistake by delivering to the Bureau of Labor Statistics the authority to manipulate the CPI numbers. This is ducking our congressional responsibility, and it is a back-door way to raising taxes and manipulating the entitlements. I think, most importantly, it fails to recognize the basic flaw in our system, and that is the monetary policy and a depreciating of currency.
1997 Ron Paul 28:3
But we have a lame duck President quite willing to accept the responsibility and to accept more executive legislative powers from the Congress, something the Constitution does not authorize. But here we have a President quite willing to, behind the scenes, to raise taxes and manipulate the cost of living.
1997 Ron Paul 28:4
The truth is there is no accurate way to measure the cost of living index.
