Yes, we are going through a period of inflation, prices rising faster than wages, but there is a “but”!
President Biden said inflation is his ”top domestic priority” as midterm elections loom. That is a “duh” statement in anybody’s book.
Meanwhile. Republicans are foaming at the mouth, blaming current policies for the economic snafu.
But wait! Let’s take a closer look at why we and Democrats and Republican alike are at this stage of our lives.
• Yes, the country has undergone a massive amount of spending fighting this COVID-19 thing and all its after- wash variants. Costs include development of vaccines under both the Trump and Biden administrations.
It covers the massive cost of distributing medications, masks, test kits that both parties approved.
• The resulting closure of both foreign and domestic factories leading to both food and product shortages that everyone knows is COVID related, regardless of who is in the White House.
• Massive disruption in the supply lines as the COVID spread like wildfire and factories shuttered and drivers, shippers became victims of the sickness.
• The real and fake surge in oil prices due to real and fake shortages and huge profits by energy producers.
• Oooh, then there is the cost of the Ukrainian war, conflict, invasion, whatever. That has tapped the government commitments into the uber multi billions. May I point out that the expenditures were overwhelmingly approved by both of the political aisle.
• Housing and rent has skyrocketed and interest rates have risen due to the financial situations mentioned here. Imagine interest rates of 5.5% or even higher.
What people refuse to believe is that a 5.5% interest rate is far better than the rates most generations had to deal with in past decades.
• People, while suffering under COVID, realized they could very often work at home. They also realized their worth in the overall employment scheme and want more $$ and benefits for living and working.
• A recent report indicated that there are two job openings for every posting in today’s market. We simply do not have enough people to fill all the jobs. Pretty weird! The debate over immigrants and migrants stealing our jobs becomes pretty moot. Still, we allow Europeans with open arms, but deny and Hispanics, or Muslim related folk into our society. How in the hell does that work?
• We get excited over crime rates, much of which can be tied to the COVID and economic downturn, but still blame those in power.
• The U.S. created more jails/prisons and filled them with many outdated laws that any other country in the world, but bemoan closing jails/prisons and attempting to reduce crime populations with easing things like bail reform.
Yes, bail reform went too far in some cases, but throwing out the baby with the bath water is just another political ballyhoo.
• Climate change is real. Regardless of past administrations and social media denial. We are all going to have to address the issue by the world, nation, state and individual reality.
Politics is nasty business, only exacerbated by social media know-it-alls. On one hand both political parties agree, but with a wink of the eye, use it to pummel voters into a frenzy to top opponents. I guess that has just become the American way.