It’s an old story: Family businesses struggling to survive hard times after politicians bungled the economy.
President Biden, Congress, political cronies, tell us recovery is at hand. But – unless you trust politicians – you can hear a distant rumble of thunder.
When Covid struck, politicians spent trillions they didn’t have – and borrowed (printed money may be a better word) to pay for their spending.
But printing trillions came with a price – it made a dollar worth less. Inflation soared, prices shot up on everything from hamburgers to gasoline and working families, family businesses, struggled.
But the same inflation handed politicians a gift. They’d borrowed trillions – at what’s called fixed rate debt – and as the dollar shrinks in value their debt shrinks too.
We’ve all stared up at clear blue skies on gorgeous summer days but, sometimes, staring up you hear the rumble of thunder – and know it’s time to head for shelter.
We have to stop this storm before it turns into a hurricane. But politicians can’t do that. It takes leaders with common sense – who’ll tell politicians, No. Enough. Stop.