- President-elect Donald Trump inherits an economy burdened by persistent inflation, a struggling job market, a weakened small-business sector, and unsustainable government debt, requiring urgent and decisive action.
- Inflation, running at 3% (50% above the Federal Reserve’s target), has eroded the dollar’s purchasing power by 22% officially, with industry-specific data suggesting nearly double that loss. Efforts to curb inflation through interest rate hikes and spending cuts were undermined by political pressures and increased money supply.
- Despite positive headlines, the job market is faltering, with declining employment-population ratios and labor force participation rates. Job growth has disproportionately benefited foreign-born workers, while structural shifts, childcare shortages, and cultural changes have driven many Americans out of the workforce.
- Federal debt as a percentage of GDP is at historic highs, crowding out private investment. Regulatory burdens under the Biden administration have stifled economic growth, making deregulation a key priority for the Trump administration to stimulate productivity and innovation.
- The Trump administration must pursue bold measures such as deregulation, tax cuts, and fiscal discipline to address structural economic issues. The American public expects significant action, as maintaining the status quo is no longer viable.
As President-elect Donald Trump prepares to take office, he faces an economy riddled with structural challenges that demand immediate attention. While optimism is growing among Americans, the reality is that optimism alone cannot repair the deep-seated issues plaguing the nation. From persistent inflation to a faltering job market, a struggling small-business sector and a government drowning in debt, the incoming administration has its work cut out for it.
The United States may still appear to shine on the global stage, but this is largely because other economies are in even worse shape. The root causes of these problems – exploding public-sector debt, bureaucratic overreach, and excessive regulation – are global in nature. However, the U.S. is not immune. Inflation, for instance, has been accelerating since September 2021 and currently runs at 3 percent, 50 percent above the Federal Reserve’s target. This follows four years of the worst inflation in at least 40 years, with some measures suggesting it rivals or exceeds the pain of the 1970s.
Inflation is insidious, and much worse than many realize
The damage inflicted by inflation is staggering. By official measures, the dollar has lost 22 cents of its purchasing power during this inflationary wave. However, industry-specific data on food, housing, cars, and services like insurance and transportation suggest the loss is nearly double that. Even if inflation were to end today, the economic scars of the past four years would linger for years to come.
The Federal Reserve and Congress attempted to combat inflation with higher interest rates and spending cuts, but these efforts were undermined by political pressures. Congress continued to spend recklessly, creating more debt than the Fed monetized, effectively printing more money. After a brief period of tightening, the Fed reversed course last year, injecting over $1 trillion into the economy. This, combined with increased spending velocity, has only exacerbated inflationary pressures. s […]
— Read More: www.naturalnews.com
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