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Show REP. LAURENCE 3. BURTON The other day my wife asked me to pick up some milk on my way home. So, I stopped at a grocery store near our house and got a half gallon carton. But, when I went to the counter coun-ter to pay for the milk, I discovered dis-covered that the fifty cents I had out would not pay for it. A single half gallon of milk costs 60 cents in Washington, D. C. today! Unfortunately the price of milk is not only high just here in Washington; it is high throughout the country. But, more unfortunate still is the fact that the price of almost everything is much higher today to-day nationwide than it was, say, five years ago. It is true that, along with the rise in prices, pay checks are getting larger, but all too many people receive raises and yet their purchasing powers are not increased. This state of affairs is the result of inflation. in-flation. As long as raises keep pace with price increases, it might seem there is no cause for alarm. After all, if what cost $1.00 years ago costs $2.00 today, to-day, and one is earning more than twice as much, it might seem that our buying powers have not been affected. It seems logical to think that the only bad effects of such an elevation ele-vation in prices are psychological psycholog-ical one can't help feeling cheated when he must pay 10 cents for the nickel candy bar of the "good old days" and inconvenient we now have to use more money to purchase goods. If the present alarming rate of inflation continues unchecked, un-checked, that nickel candy bar could require 10 nickels to be purchased before long; we would all have to use a lot of cash even for the smallest of purchases. Actually though, the above two bad effects of inflation are not by any means the worst ones. Inflation causes tremendous hardships on 'hose with fixed incomes. As the value of the dollar is lessened by increasing prices, these with fixed incomes, e. g., those on pt-.sions, those on welfare, and those on social security, have their purchasing powers greatly diminished. The retired, the helpless, the unorganized these people are ready hurt by inflation. President Nixon this week asked Americans to join with him in helping to cut back our country's rate of inflation. He has asked business and labor leaders to act responsibly. This means that businessmen shou'd strive not to raise the prices of their goods, and labor should try to refrain from asking for higher wages. Also, Mr. Nixon asked all of us to "bear the burden off restraint" re-straint" in our personal bur- rowing and buying dec.sions. Prices tend to go 'in when there is a great demand for goods, and conversly, they tend to drop when there is little demand, de-mand, So, we all can help lower low-er price levels by not making purchases that can be postponed. post-poned. I think we sho'ild be concerned con-cerned about our present rate of inflation, but we neea not become overly frightened. However, How-ever, we all shou'd make a conscious effort to help reduce it for a high rate of inflation necessitates drastic adjustments, adjust-ments, and while these are being be-ing made, many people suffer greatly. |