Inflation hits rural communities the hardest. We must find equilibrium between supply/demand and ignite the labor force. Serious solutions require everyone to get serious about fighting the pandemic.
We know the holiday season can be financially tight for citizens of Northern Michigan and the Upper Peninsula, but if you can afford it, your generosity to my campaign will help me fight for better policy initiatives in Congress that benefit hard working families.
WASHINGTON, DC. – This, from NPR yesterday: "So far the U.S. has recovered about 82% of the jobs lost during the pandemic. But 2.4 million others who left the workforce when the coronavirus struck have not yet returned. It's not clear when — or even if — they will."
"We all thought there would be a significant increase in labor supply and it hasn't happened. So you ask, 'Why?' There's tremendous uncertainty around that, but a big part of it is clearly linked to the ongoing pandemic." – Federal Reserve chairman Jerome Powell to Senate Committee.
One of the most effective measures we can take locally to get the economy back to normal is to decrease the damage of COVID by getting vaccinated. – Dr. Bob Lorinser
What caused the big jump in inflation?
The COVID pandemic resulted in the collapse of the economy and supply-side shortages, which still exist today.
The US government stimulus with trillions of dollars in buying power was meant to keep workers “alive” when their job disappeared but consumers had nowhere to spend.
When the vaccine arrived, we experienced an unexpected, rapid recovery of Americans resuming spending with penned-up money and penned-up need chasing limited items. Supply chain levels – worldwide and domestic – aren’t back to normal.
The result: Inflation — more money chasing scarce items causing misery for the consumer.
Prices of food and energy, which are set on world markets, have risen sharply everywhere. For us Americans, prices are up over the last year.
Egg prices 12%.
Gasoline up 50%
How long will it last?
As long as companies and the supply side chain struggles to keep up with the demand for goods and services. I hope not long, but relief will not be immediate.
What can be done?
Fix the supply side chain globally
End the COVID pandemic globally
Let the Feds address monetary policy – interest rates and money supply.
We have previously encountered national and global problems and succeeded. We will do so again, but both the pandemic and inflation hit rural communities the hardest. It's essential Congress prioritize initiatives to end the pandemic, get people back to work, and stabilize the economy. Healthy communities and a workforce with job security and confidence in the future can soften the blow of high inflation. Let’s move forward with vaccinations and ignite the economy with healthy and employed workers.
We will get through this.
– Dr. Bob Lorinser
PREVIOUS BLOG OCT. 28, 2020
Congress should not "halt" infrastructure talks to address the supply chain; it can do both
Dr. Bob Lorinser, candidate for US Congress in Northern Michigan and the Upper Peninsula, says two critical issues facing the House are not either/or. "We must do both."
ISHPEMING, Mich. – My opponent, Jack Bergman, recently suggested Congress "halt" discussion on the Hill about infrastructure improvements to address the worldwide bottlenecked supply chain.
My expectations are higher. Congress is capable of doing both.
Global supply chain problems are urgent and deserve immediate Congressional action, but these issues are not new. This describes the current origins of the massive COVID-related supply chain problem.
"Throughout the pandemic, businesses of all sizes have faced delays, product shortages, and rising costs linked to disruptions in the global supply chain. Consumers have been confronted with an experience rare in modern times: no stock available, and no idea when it will come in." 》
It's time for the private sector and government to work together to address the root causes and find solutions that prevent bottlenecking to this degree from happening again.
Addressing our crumbling and inadequate infrastructure is another urgent issue deserving immediate attention.
I disagree with Jack, again. Congress is capable of handling more than one urgent issue at once. Get to work. Do your job. Do it well. The well-being of the nation you serve depends on you.
If Jack isn't willing to do his job, I'm more than ready to take it. A contribution from you today will help me expand our outreach efforts. Help me show the people of Northern Michigan and the Upper Peninsula they deserve a capable and effective Congressman who can address more than one issue at a time.