INFLATION
Do you believe stopping wasteful government expenditures are essential to fight runaway inflation? We need voices like yours to revive fiscal moderation.
Add your name to combat record high inflation.
The latest report in March 2022 saw a 8.5 percent year-over-year increase in prices, an inflation rate unseen in the last forty years. Food prices have increased by 8.8 percent over the past twelve months, while gas costs a whopping 48 percent more today than it did a year prior. Additionally, housing prices have risen 23% over the past year, and experts predict that housing prices will continue to soar by another 16% until the end of 2022. As the end of the pandemic grows nearer, our government should be doing everything in its power to prevent another economic catastrophe from occurring and make its best effort to halt the surge in inflation that is scourging millions of Americans, particularly those who are economically disadvantaged.
REDUCE WASTEFUL SPENDING
But our leaders continue to act irresponsibly where public spending is concerned, pushing forward outlandish increases to already exorbitant budget proposals. Last year, lawmakers approved billions in pork barrel spending as Americans struggled to return to work and provide for their families. Meanwhile, measures of the monetary base, or money supply, are currently the highest on record in the past two years. Over 80% of U.S. dollars ever printed have come into existence within the last two years. For comparison, the money supply normally grows by only 7 percent per year. Unless our government makes a genuine effort to reverse these trends of careless deficit spending and sloppy monetary policies, I fear that these high rates of inflation are here to stay.
Our government must take the initiative to help those affected by rising inflation. The Fed’s plan to raise interest rates is a step in the right direction, but it is very likely that consumers will experience the negative impacts of a sudden hike in the interest rate before inflation slows down. And if our leaders continue to ignore the practices of large corporations, That means that the prices of everyday necessities like gas, electricity and food will onlycontinue to climb further, even as wages continue to stagnate. I will fight to bring inflation under control, fix the Fed’s broken monetary policies, and be the voice that our district needs to deliver pragmatic solutions and real change in Congress.