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YOUR
CONGRESSMAN
\ REPORTS
vV
By Rep. Burr P. Harrison To .anyone responsible for a family budget, it is rx^great surprise to read that the dollar has , slipped more than 20%- in value in 10 years and is worm less than half t>f its 1940 vaTue. \ - - Wholesale and consumer price j indices are at all-time highs. Yet • we are said to be in the slough of a recession. If so, the inflationary forces haven’t heard that the deflationary forces are at work. As one business observer pointed out , recently, we never before have experienced the paradox of industrial production dropping 14% in a year .while, at the same time, wholesale prices rise 2%, consumer prices rise 3.5%, average hourly earnings of production workers in the Sirablr goods field rise 2.8% and pay of construction workers rises 5%. , The overall average cost ot alt items in the family budget has risen, as stated, 20%, shrinking the dollar by that amount. According to government statistics* the biggest cost jumps among the ma. jor household expenses have been in transportation (38%) .and 'housing (25%). Food has gone up 'l6% in the 10 years, and clothing , j%, with these four classifications accounting for about 83 cents of
52.4%