What is the cost of living?

What exactly is the cost of living. I guess that depends on who you ask. The government figures it one way while news outlets, well I can't say where they get their data, but they say another thing. Here are some categories I've used:

• rent/mortgage (got to live somewhere)
  
• transportation (got to get around)
  
• phone (one with basic service only-it's a must to get a job)
  
• education (to keep a job or get a new one, can't do without)
  
• food (if people eat more at home the cost is lower, but I figure 50/50-home/eat out)
  
• clothing (or you get arrested and need it for the job)
  
• toiletries (I think you know why on this one)
  
• utilities (the basics, nothing fancy)
  
• home furnishings (the basics-someplace to sit, tables, bookshelf, etc. - nothing fancy)
  
• appliances (can't cook without a stove and can't keep food without a fridge)
  
• electronics (only those needed, no extras or fun things-no game boy)
  
• vacation (can't live without some R&R, it also makes people more productive and reduces stress -> less medical costs! - some employers are stupid when it comes to giving people time off, they just don't get it.)
  
• medicine (all the things not covered or have to pay extra for)
  
• retirement funding (since employers are pushing it onto employees to do their own doesn't mean they shouldn't cover it in increased pay!)

Did I miss anything?  You tell me.

I figure cost of living in two ways: 1) what it actually costs plus 15%, or 2) if minimum wage had kept up with the cost of living. Either way, both numbers are real close.  Ready?  It costs an individual $68,000 to $75,000 a year to pay for everything, and I am not talking extravagantly or in any way with a lot of extras, like cable TV or fancy clothes.

Now I want to hear from others. Give me your feedback, I want to know what you have to say.