(Biden gets the message...see Nov 23 blogpost)
Listening to attempt by progressives and President Biden to show how their BBB legislation, the social infrastructure reconciliation bill, and the bipartisan infrastructure legislation just passed, will deal with inflation, have a severe weakness in dealing with the general horror over inflation. The short and the long of actions are the problems. These Biden initiatives are only promises for long-term solutions while the political and consumer problem is short-term, The Biden efforts are hard to grasp promises for future relief. over this next year and beyond. As I write this, waiting for fora bad CBO score on the BBB,, may even make the Democrats look more tone-deaf on the issue. Waiting for the public to understand the argument of how the BBB and the infrastructure legislation would reduce the price increases consumers are paying at the pump and retail will run up against 2022 midterms because of the time needed to start up, to see it actually working. . These long-term solutions look to consumers like a lick and a promise, ripe for skeptics to attack. They want credible action now. In the meantime, for the next year, inflation will be on the top short-term voter list of disgust.
. Some ideas being floated around for immediate, temporary relief are to release some strategic oil reserves, and roll back Trump's Chinese tariffs on consumer goods, (Trump tariffs were just passed onto consumers, and only in a few sectors did it help the US manufacturing sector. To avoid looking like Biden is catering to the Chinese, trade-off with some unfair trade practice measures).To address the labor shortage problem as it affects agriculture, food supply, target a temporary year-long visa program for specific sectors including restaurants and domestic, eldercare workers. To avoid looking like open borders advocates, the Biden administration could increase the funding for enforcement for visa overstays and for visa processing in general. Sunset provisions for these measures keep these temporary. Fed plans for raising interest rates to cool off the economy may have long-term benefits, but it just increases the pain consumers feel now with the cost of credit. ..
Listening to attempt by progressives and President Biden to show how their BBB legislation, the social infrastructure reconciliation bill, and the bipartisan infrastructure legislation just passed, will deal with inflation, have a severe weakness in dealing with the general horror over inflation. The short and the long of actions are the problems. These Biden initiatives are only promises for long-term solutions while the political and consumer problem is short-term, The Biden efforts are hard to grasp promises for future relief. over this next year and beyond. As I write this, waiting for fora bad CBO score on the BBB,, may even make the Democrats look more tone-deaf on the issue. Waiting for the public to understand the argument of how the BBB and the infrastructure legislation would reduce the price increases consumers are paying at the pump and retail will run up against 2022 midterms because of the time needed to start up, to see it actually working. . These long-term solutions look to consumers like a lick and a promise, ripe for skeptics to attack. They want credible action now. In the meantime, for the next year, inflation will be on the top short-term voter list of disgust.
. Some ideas being floated around for immediate, temporary relief are to release some strategic oil reserves, and roll back Trump's Chinese tariffs on consumer goods, (Trump tariffs were just passed onto consumers, and only in a few sectors did it help the US manufacturing sector. To avoid looking like Biden is catering to the Chinese, trade-off with some unfair trade practice measures).To address the labor shortage problem as it affects agriculture, food supply, target a temporary year-long visa program for specific sectors including restaurants and domestic, eldercare workers. To avoid looking like open borders advocates, the Biden administration could increase the funding for enforcement for visa overstays and for visa processing in general. Sunset provisions for these measures keep these temporary. Fed plans for raising interest rates to cool off the economy may have long-term benefits, but it just increases the pain consumers feel now with the cost of credit. ..
https://www.reuters.com/business/energy/exclusive-us-asks-big-countries-coordinate-releases-oil-reserves-sources-2021-11-17/
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