As the current debate rages on inflation in the US, it should be noted that much of this conversation is based on outdated data and things are really improving.
Although the news on inflation coming out today is clear, the good news is that we will see a decrease for the rest of the year. A report from Economic indicators of Blue Chip In 2022 it is forecast that the Consumer Price Index will decrease to 3.0% in Q4 2022 and 2.4% in Q4 2023. In addition, some Good news From the report: wage growth was above inflation last month, at least on average. That means the average real hourly earnings of all employees actually increased from November to December.
All things considered, this is promising news, which one would think Republican Party member would be applauded for how often they talked about the issue. But while they have relentlessly politicized the issue, Republicans have done nothing against it. If anything, they created this mess with their irresponsible COVID-19 inaction. If Republicans are serious about fighting inflation, they will join Democrats in the fight against the COVID-19 virus, ending the economic turmoil it has caused. And if they really want to help Americans Cheap they will work with Democrats to pass the Rebuild Better Act.
President Joe Biden responded to the disappointment of the American people, fight strong to reduce inflation. He secreted oil from Strategic oil reserves and worked to fix the delay at ports lead to supply chain problems. In the end, he took steps to Cut the cost meat for consumers. All of this along with the policies in the Better Back Building Act, once passed, will promote reduce costs for all Americans, once it’s passed.
These strategic actions have led to prices of everything from gas and groceries to Falla trend that is likely to continue this year. As I noted here In the past, the economy was booming: in just 11 months, President Biden created nearly 6 million jobs, people bought homes, wages rose, home values rose, personal debt fell, and perhaps staggeringly. Most surprising is that the unemployment rate is back below pre-pandemic levels. Are the things we want right now? No they’re not, we have to do more, but Republicans aren’t helping, if anything they’re making things worse.
Although Republicans love to talk about inflation, they have done nothing to combat it. They don’t have either plan to fix this problem. Their economic policies have contributed positively to the pain of the American working class. Their stubborn, misguided refusal in 2020 to follow basic COVID mitigation plans by medical professionals has fueled the spread of this deadly virus. Their failure to fight Covid in 2020 created the inflation we are experiencing today.
As Craig Kirsner, President of Stuart Estate Planning Wealth Advisors recently said Forbes: “…For the past year and a half due to Covid, almost nobody has spent money. Now that the economy has reopened, people are spending and traveling and so there is a bottleneck. bottle with very high demand. Our system is not set up for this high level of demand, thus causing short-term inflation.”
To be more specific here, inflation happens because our economy is growing at historic rates, the American people have money because the Bidens have invested in them. Americans are spending money, buying goods, and driving demand outstripping supply. Do Republicans who complain about inflation argue that we should slow down the economy and that American consumers should stop buying? What does that mean?
The Republican Party’s catastrophic failure to combat Covid has brought us to this inflationary challenge. It was the Republicans who let the Coronavirus raged out of control and did not follow basic protocols to fight viruses with all their tools and treatments.
Our economy has been shut down because Republicans don’t take science seriously. Particularly outrageous is the fact that they still don’t take the virus seriously because they actively propagandize not to wear a mask and not to vaccinate. They bear part of the responsibility for the pain and loss that Americans continue to experience. Notably, Republicans have yet to take this virus seriously with Senator Marco Rubio of Florida recently calling for a people’s response to the surge in Omicron cases.”unreasonable hysteria. “Perhaps even more confusing Florida Governor Ron Desantis, in the context of the lack of testing, has actually left an entire warehouse full of Covid-19 testing. expire.
Beating COVID-19 is an economic imperative for all workers. The Democrats have invested so much in the American people, they have fought tirelessly to ensure American workers are supported during the ongoing Coronavirus Pandemic.
Democrats and Biden are waging an all-out assault on the coronavirus, to save lives, jobs, homes and ensure Americans are fed during this crisis. Democrats have led the effort to get 200 million people vaccinated them, got them back to work, opened up our economy, and continued to invest in the American people. These proactive actions taken have fortified our country against the effects of Covid and inflation that voters are experiencing.
Sadly, Republicans don’t care that when they actively spark anti-vaccination and mask-wearing incidents, they are harming our economy and our people. Republicans still have a chance to help combat the costs associated with inflation: they have to join the Democrats and pass the Rebuild Better Act. Recently, 15 Nobel Prize-winning economists released a open letter Because this agenda (BBBA) invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease inflationary pressures. long-term.” That’s on top of a letter released last year from 56 economists urge Congress passed the Better Rebuilding Act and reduced everyday costs for working families. These economists note that those investments, along with tax cuts for the middle class, will ease the inflation burden on Americans and allow them to keep more money in their pockets.
It is unconscionable that Republicans continue to play politics with inflation, people’s livelihoods, and their lives. Republicans have a chance to help ease the economic pain of all Americans by passing the Building Better Back Act, and they didn’t choose. Next time you hear a Republican complaining about inflation, take a moment and remember two things: The reason we’re in this mess is because of their economic policies, and their failure to fight COVID has created inertia that leads to higher prices for consumers.
https://www.salon.com/2022/01/13/republicans-problem-with-inflation/ Republican Inflation Problem | Salon.com