67 percent of those surveyed in a recent YouGov poll respond that they think inflation is "a very serious problem," as the following headline by The Hill indicates.
Most Americans in new survey list inflation, homelessness as "very serious" problems https://t.co/wCKmRDZHr6
— The Hill (@thehill) August 31, 2024
Charlie Gasparino comments that Americans are getting "crushed" by inflation.
Charlie Gasparino: Average American people are getting crushed by inflationhttps://t.co/FIhrutqqk8
— Fox News (@FoxNews) September 1, 2024
Prices are rising too high, too fast. That is what inflation means. This is an ongoing problem, has been for years now, and it continues, as the latest Consumer Price Index reading is 2.9 percent. The CPI, published monthly by the Bureau of Labor Statistics, measures percent changes in prices on an annual basis, so the 2.9 percent figure means that the same goods and services are nearly 3 percent more expensive than they were at the same time in 2023.
Consumers are having to pay too much for goods and services, and the high prices are trickling down to every part of the economy.
The high inflation occurring under President Joe Biden is horrible, as are its consequences. A slight cost of living increase periodically is an economic norm, but prolonged inflation is not. The strain (or tax, to use a more appropriate term) on the macro economy by high prices would be difficult to quantify. High inflation persists because of failed economic policies. Democrats are empowered with most legislative ability at the current moment, but they do not attempt to apply working solutions to remedy what is a disaster. There is nowhere to hide from the consequences of President Biden's economic policies.
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Democrats push spending, spending, and more spending. If high inflation is too much money chasing too few goods and services, it stands to reason that cutting spending is a method of inflation reduction. An example of where Democrats are on this particular issue is the counterintuitively entitled "Inflation Reduction Act," counterintuitively entitled because taxes, spending, and regulations are not recipes for economic growth and inflation reduction.
It is conspicuous how few working solutions Democrats attempt to apply to the continuing problem of high inflation. All Americans would have been better served had Democrats used their political capital to cut wasteful federal government spending, to reduce taxes across the board, and to eliminate onerous regulations without seeking increasingly creative ways to further regulate. Commerce in the United States comes down to employees who work sincerely for their employers and the customers they serve, business owners who are careful custodians of the people they employ and those they serve, innovators who use modern technological advancements to meet timeless challenges, entrepreneurs who recognize and fill pockets of demand, inventors who add to possibilities through new products and services, and many more of the same strain of ethic. Regulation is necessary from time to time, but those who keep the U.S. economy going are most free to create and produce when government is least involved in the creation and production.
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