Memo To: Bill Bradley
From: Jude Wanniski
Re: "Meet the Press" appearance 12/15/96
1. You are wrong about the CPI overstating inflation. It understates inflation. The price of gold is up 1000% in the last 30 years. The CPI has only risen 400%. We got the Morristown ,Daily Record from 30 years ago and found that rents are up 1000% and housing costs are up 1000%. A commuter railroad ticket from Morristown to NYC is up 1000%. Movie tickets are up 800%. Utilities are up 800%. Food costs are not up as much, although some processed foods are, but overall they are clearly up more than the 400% of the CPI. They are probably up 1000% if you go to the local convenience market, but the CPI does its buying of groceries at the big supermarkets. If you are going to run for President, you had better do some homework on this, or you will be finished in elective politics altogether.
2. Your are absolutely wrong about campaign finance, backing a constitutional amendment to limit the use of money as the equivalent of speech. This is further evidence to me that you are not presidential timber, in that this position represents a profound distrust of democracy. To change the Constitution after more than 200 years, I wouldn’t suggest anything but an increase in the political freedoms of the American people -- a national initiative/referendum process, for example. You want to slash our freedoms, by limiting their political influence to the sound of their voice. I’ve always suspected you of Maoist tendencies, Bill. This is the best example yet.
3. Otherwise, you were terrific, and you look good too. Nice shirt.