Unlimited Access. Try it Today! Your First 10 Days Always $0.99


Anthony Foxx
Congress on the budget clock, again

Wouldn't it be great to live with 1993 prices? A dozen eggs was less than a dollar. First-class postage was 29 cents. And the cost of a gallon of gas was $1.13. Of course, average income was significantly less 22 years ago, too, at slightly over $30,000 per household, but that tends to be forgotten. Say what you will about the first year of Bill Clinton's presidency (when the unemployment rate 6.9 percent, much worse than today's), but at least the prices were good by 21st century standards. Obviously, you can't turn back the clock. Producers can't sell eggs for that price because the cost of raising hens is much higher today. The U.S. Postal Service faces much...