(July 18, 2024 at 12:22 pm)Lek Wrote: You forgot to mention the one overwhelming factor that has set Americans back while employed and that's super high inflation. Even working people are struggling as their income covers less and less. The inflation reduction act has me scratching my head as to how we were going to reduce inflation through more federal spending. This is a large part of economic health.
The recent inflation was caused by corporate greed. While it’s true that the Act didn’t do a lot to reduce inflation immediately, it was intended to slow the rate of inflation longer term, which it did.
Government spending, when properly focused, always increases economic activity -more jobs and higher wages tend to have a dampening effect on inflation.
Two years ago, US inflation peaked at 9.1%. It is currently at 3.1%. If you’re going to blame an administration for high inflation, you should credit them for low inflation.
Boru
‘I can’t be having with this.’ - Esmeralda Weatherwax
