Opinion: The State of Our Economy

Luay Rahil

Photo by Jayphen Simpson on Unsplash

It has all become very dark for the average American family.

The American people are fighting six battles simultaneously: high student loans, inflation, collapsing airline industry, declining student test scores, rising home prices, and a breakdown of civility.

They are fighting these battles alone because politicians are too busy fighting for your vote and not improving your living standards. Everything President Joe Biden did in the last 12 months was intended to get you to vote for the Democrat in the next election.

The student debt crisis

President Biden has not addressed this brutal reality, and he won't address it at any time soon.

Addressing these six brutal facts might impact his ability to get elected, so he would rather ignore them. Democrats are great at kicking the bucket down the road. Instead of addressing the fact that students can't find good-paying jobs, President Biden would rather make an executive decision to cancel $10,000 of student debt for low- to middle-income borrowers.

I don't know about you, but I would rather have a job that pays me well, and I can pay my student debt by myself. I don't need a handout. I need a good economy where I can get a job with a salary that keeps up with the inflation rate. Better, I would rather have an economy with less than a 2% inflation rate where I can earn a good living and live a good life.

Slow down the inflation rate.

Congress passed the Inflation Reduction Act, which will spend $433 billion primarily on climate initiatives while levying a 15% minimum tax on big companies.

According to the Congressional Joint Committee on Taxation, the Act will raise taxes for most Americans, with those earning below $10,000 experiencing the largest pain.

I'm not a tax expert, but I'm 100 sure that the Inflation Reduction Act is just a name, and the Act has nothing to do with decreasing or controlling the out-of-control inflation rate. The Inflation Reduction Act is a marketing trick, not an economical solution to help you pay your bills or live better.

The bottom line is that the Inflation Reduction Act is a marketing campaign to get more votes in November, not an attempt to make your life easier. We need the Federal Reserve to act quickly and decisively to control the out-of-control inflation.

Powerless Americans are being brutalized by out-of-control inflation, and they are hoping the Federal Reserve can get the issue under control.

The airline industry is collapsing.

The FAA is collapsing. Something has to be done.

The abuse of airline passengers has to stop! The airline industry is irresponsible—mass confusion and cancelations all over the USA. Anytime you travel, expect to wait in the airports for hours and sometimes days.

Thousands of hard-working Americans have lost hundreds of thousands, possibly millions of dollars, because of airline irresponsibility. This is what average American travelers are facing:

According to Senator Alex Padilla, "One in five flights has arrived behind schedule this year, while airlines have canceled flights four times as often during high-travel weekends than they did in 2019." Unfortunately, this is not the end of the suffering. There are more than 122,000 flights that were canceled in 2022, resulting in three times more complaints compared to 2021.

I know airlines are struggling to attract good talent, but they are overbooking flights to maximize profit and not decrease consumers' suffering. There is also another problem: airlines are selling tickets for flights they know they cannot staff, and they refuse to refund passengers money, despite being required to do so by federal law.

You might ask why this man blames the White House for the airlines' problem. Let me tell you. Since January 2022, prices for domestic flights have increased 47 percent. At the same time, airline companies have accepted $50 billion in government grants. I urge the FAA to hold these airlines accountable and protect passengers from unfair practices in the airline industry, including delays, cancellations, and involuntary re-bookings.

Students are falling behind.

Kids are failing math and reading, and they are falling behind.

CNN reported that "Math and reading scores for 9-year-olds in the U.S. fell between 2020 and 2022 by a level not seen in decades, a foreboding sign of the state of American education two years after the Covid-19 pandemic began."

The average scores in 2022 dropped 5 points in reading and 7 points in math compared to 2020 — the largest drop in reading since 1990 and the first-ever decline in math. This is horrible news for our kids. I have an eight-year-old son, and it has been a struggle to help him catch up.

Everyone knew that lack of in-person classroom interaction would harm our children, but it took these scores for the U.S. Secretary of Education Miguel Cardona to confess that the lack of in-person classroom education during the Covid-19 pandemic created an educational crisis.

Cardona's message was clear and alarming, "The data confirms the significant impact the prior Administration's mismanagement of the pandemic has had on our children's progress and academic wellbeing." So I have a quick suggestion. Let's stop blaming each other and get to work to help our kids.

No one can pay rent anymore.

The median rental cost in the U.S. has surpassed $2,000 a month for the first time in history.

Homeowners are greedy and selfish, and no law protects consumers from greedy landlords.

Landlords are raising the rent by 30% on average without proper notice and regard to the families occupying their homes. Last June, Redfin reported rent increases were up over 30% in multiple cities, including Austin, Nashville, Seattle, and Cincinnati. So, how is the average American family supposed to afford food for their families?

If no one can pay rent, I assure you no middle-class American can afford to buy a house anymore. I will talk about that in another article.

The lack of civility in the country is alarming.

There is a question that I ask my friends often, "Are we becoming less civil in the way we communicate with each other?"

I don't want to say much about this topic. Instead, I would like you to read some of my articles and see how people respond to them.

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Writing on leadership, business, and culture.

Fort Worth, TX

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