It’s official. Inflation has risen to more than 6.2 percent over the past year, and families are hurting.
Inflation is impacting every aspect of our lives, and President Joe Biden has a responsibility to slow it down immediately.
There is no bigger liability for the Democratic Party or President Joe Biden's legacy than inflation. As congress celebrates passing a roughly $2 trillion spending bill, the rising inflation rate is destroying families' budgets and driving the cost of living up every day, "Government data showing the cost of living rose 6.2% over the last 12 months -- the highest rate in 30 years."
Every time an American family sits at the dining table, they debate how to spend their money and stretch their budget until the end of the month.
Ellen Vollinger, legal director of the nonprofit organization, believes that some families don't have enough money to buy food anymore, "We do know they’re feeling a pinch on utilities. They’ve been feeling a pinch on rent. Housing is a cost they can’t really cut back on. Food is something that sometimes families will decide they can do without, which means that parents are skipping meals so that their kids don't go hungry."
CNN reports that "Every trip to the supermarket shows that basic foods like eggs or meat are shooting up in price. The gallon of gas it takes to get to the weekly grocery run is currently averaging $3.40 nationwide."
No one is immune to the impact of inflation.
Rising prices at grocery stores and living costs are stealing the joy this holiday season and making the coming winter very expensive for every family.
When the discount chain Dollar Tree raises its prices to $1.25 instead of the $1.00 price point which has defined the chain for decades, you should know that no company or family is immune to the impact of this widespread inflation.
Dollar Tree said in a statement, "For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made it one of the most successful retail concepts for three decades. However, the Company believes this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers."
I don't believe there is a more direct illustration of inflation than Dollar Tree.
Many poor families shop at Dollar Tree, and they just saw a 25% increase in their bill, and they are worried, afraid, and don't know what to do.
Inflation is now at the kitchen table, and the government response can't be let's print more money. As illustrated in this article, printing more money harms families and does not help them. When working parents have to skip meals or can't afford to heat their homes this winter, every politician should be held accountable.
What can the president and companies do?
There are multiple reasons for this inflation that we are facing. However, two factors directly impact the price of goods: the shortage of products and goods.
According to CNN, he needs to work hard to unclog the supply chain, and some officials suggest that President Biden should use the National Guard to step in and begin trucking goods. He can also end worker's shortage via immigration visas, which should help with the shortage of workers.
Other solutions he can utilize include addressing the spike in energy prices, engaging with the private sector, and easing tariffs to reduce the pain on families.
Companies can pay higher salaries to entice workers to return to work and help working families deal with inflation.
What do you think the president and business can do to slow down the inflation rate?