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INFLATION….The consumer price index fell last month, but this was mostly due to falling oil prices, so it’s no big deal. It’s a good thing, in fact. Remove oil prices and inflation was up very slightly, perhaps 0.1% or so.

That’s worryingly close to zero, and that’s a much bigger deal, especially since we’re still in the early days of this recession. If prices fall any further, we’re in deflation territory, and that would be dismal indeed. So as much as I dislike the auto bailout on its merits, this would not be a good time to let GM go under. Nor is it a good time to cavil about federal stimulus spending or to force state governments to slash expenditures. So tell me again: how many days are there until January 20th? It would be nice to have an actual president again.

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AN IMPORTANT UPDATE

We’re falling behind our online fundraising goals and we can’t sustain coming up short on donations month after month. Perhaps you’ve heard? It is impossibly hard in the news business right now, with layoffs intensifying and fancy new startups and funding going kaput.

The crisis facing journalism and democracy isn’t going away anytime soon. And neither is Mother Jones, our readers, or our unique way of doing in-depth reporting that exists to bring about change.

Which is exactly why, despite the challenges we face, we just took a big gulp and joined forces with the Center for Investigative Reporting, a team of ace journalists who create the amazing podcast and public radio show Reveal.

If you can part with even just a few bucks, please help us pick up the pace of donations. We simply can’t afford to keep falling behind on our fundraising targets month after month.

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