Letter to the Editor: Inflation hurts us all, so let’s vote out those who are responsible | SummitDaily.com

Letter to the Editor: Inflation hurts us all, so let’s vote out those who are responsible

Ken Gansmann

None of us like what we are now paying for food, fuels, housing, etc. It feels like we are revisiting Jimmy Carter years with sky high gas prices and inflation as high as 14.6% — not to mention the Arab oil embargoes of 1973 and 1979. It has been nearly 50 years since then. I was hopeful we would never go there again. On top of this, OPEC+ just announced a reduction in crude oil production. This is another gut punch to all of us. Ready for higher electric, diesel & gasoline prices?

Bringing inflation down from this 40-year high will require a slow down in economic growth and reduced demand for workers. Our debt was about $5.7 trillion in 2000. In 2020, it climbed to nearly $27 trillion and is now roughly $31 trillion. Interest rates are still climbing. The interest on this debt is now over $1.0 trillion per year.

Who will pay for this? Us, our children, grandchildren, etc.

Let’s assume $1 in 2000 bought $1 of goods. In 2020, it bought only $0.65 of goods. In 2022, it now buys only $0.57 of goods and is getting worse. Get the point? Inflation and interest rates are very painful economic damage to all of us.

Who is responsible for this? Well, let’s start with the policies of our government in early 2021. Let’s look at our congressional spending which has added approximately $6.5 trillion in less than 2 years.

U.S. Congress passes laws and is supposed manage our affairs. The problem is they keep spending to get re-elected and pass the invoices to us. Since they will never accept term limits, our only recourse is to vote them out. My recommendation: It is election time. Vote for no one who approved recent irrational spending — on both sides of our political aisle.

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