The State of the Union: A Look Into The Economy

U.S. inflation from 2005-2021.

Anyone who has lived in the United States for the last few months has probably noticed the increase in gas prices, businesses closing early and the blatant supply chain issues. Around campus there have been numerous complaints along these issues ranging from gas prices being over three dollars and homecoming dresses taking over a month to ship. While blame for this has been pointed at various entities, perhaps one should turn to the leaders of our country.

On October 13th, Ronald Klain, current White House Chief of Staff, retweeted a tweet that described the economic issues the country is facing today as “high-class issues,” but in fact many of these issues are most deeply hitting the working families of America. Our leaders are not taking these issues seriously, and they need to realize how deeply they are affecting all of the people who live in this country. Just in the month of September inflation rose 5.4 percent since last year and .4 percent since August, and inflation has reached its highest point in thirteen years. Prices are rising with no signs of stopping. Shipments have been backed up for months. And all that our leaders can say about this is that it is a “high class issue”.

Last month’s inflation rate was almost a full point higher than its predicted 3%. Unemployment is up, while job openings are plentiful. Although, yes, much of the economic turmoil can be traced to the pandemic: less people are consuming service related goods, some are still uncomfortable working, etc, but some efforts still must be made to fix these issues. But instead of trying to combat this, leaders are calling basic economic principles a “high class issue”? Perhaps the government should instead spend more time confronting the economic issues in this country and trying to find a path to recover from them.


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