COLUMN: Contrasting views concerning inflation

Published 9:46 am Saturday, September 28, 2024

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By J. Edward Howell Jr.
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All of us are challenged by the increase in prices of everything that we buy. The necessary purchases of food, fuel, clothing, houses, rent, and transportation have exceeded the ability of consumers to make enough in wages to pay and survive. Sacrifices have to be made. In the heat of this election season let’s look at the proposed solutions of each of the political parties. As a way to bring inflation down, the Republican Party advocates opening up the production of our petroleum industry and becoming energy independent once again, as we were under the Trump administration five years ago. Why is this so important? From the farmers, who till the soil and produce our major crops of food and fiber, the use of diesel fuel and propane gas is a paramount and necessary part of their ability to produce. The increased price of these basic products is reflected directly by their ability to work and produce or cut back and eventually close their operations; fossil fuels are the major cost in transporting products and produce. Energy costs are also a big cost factor in the manufacturing and distribution process. The cost of fuel alone is the most driving force in our present inflationary times. The Republican proposal is the answer to the inflation problem. Supply and demand and competition will once again be the neutralizing and controlling elements for budget-busting inflation. On the other hand, the Democratic Party advocates Price Control. They also claim that caps on rents and giving people $25,000.000 for a down payment on a house are the answer to the housing dilemma. They have completely forgotten the effects that price controls and rent caps had on our economy when they were tried and proved to be failed policies many years ago. In 2008 we tried giving people mortgages, who could not afford mortgages. They discovered, to the harm to our economy, that they also could not service their mortgages. Some very large banks went bankrupt when they purchased these junk mortgages. This was all promoted by the Federal Government. Remember who was President? George Bush. Barack Obama was elected as President in November of that year. We have to be alert for bad policy, whichever the Party. This is similar to the Federal Government taking control of school loans. This was Obama’s doing. Now Biden wants to forgive all of those loans. This is just another reason for embracing the study of history. We should learn from history, but we don’t. In closing I just want you to realize which party, in my opinion, has the most realistic policies for controlling our economic future. The Democratic Party believes in tossing huge sums of money at any problems, foreign and domestic, and taxing the citizens more. We now see our National Debt at an amount that few people can even comprehend. Meanwhile, the Republican platform provides tax relief for the citizens and a way of financing our defense and domestic needs by encouraging businesses that provide quality paying jobs. Please, look at what is being proposed and vote like a responsible citizen. Your heirs will benefit from your good judgment. Ask for God’s guidance. Vote accordingly.

J. EDWARD HOWELL JR. is a native of Southampton County. He can be reached via email at jimmy9298@charter.net.