Economic Concerns

Are you worried about our country’s economy? Worried about your personal finances? We have just been reminded by a couple of financial institutions that a possible recession is around the corner. Look at all the factors that influence our economy and finances. Factors include the housing market, interest rates, putting household expenses on debit and credit cards and then not being able to pay it off. 

Gas prices, energy bills, taxes, proposed new taxes, health care expenses and grocery items keep going up. Then there is the federal level, taxes, social security concerns, real possibilities of war with other countries, no gas reserves, our nation’s debt, threat of higher interest rates. Where will it end?

Where do you start to solve the problems? One of the first things to understand is that our economy cannot sustain itself the way it is going. There is no easy solution. 

Inflation is really a regressive tax. It hurts everybody, but mostly affects the poor and those who truly struggle raising their families. Our country is printing one trillion dollars every three months. All this does is to increase our debt. 

If you have gone to the bank to get a loan you are familiar with the process. One must put forth your personal financial statement, employment and must have your ratio of income to expenses within a designated range. 

If all things do not come together, there is no loan offered. You cannot print money to cover your bills. The same should be for our country. For sure, we must tighten our belts and it won't be easy or comfortable. But it will be easier than the suffering we will have soon if we do not.

When Trump left office gas was around $2.00 per gallon. The price went over $4 or $5. It has come down a little but is now forecast to climb again. This makes a difference of hundreds or thousands of dollars for the year. Then that reduces going out to eat, vacations, new furniture

 and the list goes on. Your monthly energy bills have gone up 15%, 20% or more. Health care premiums and expenses rise faster than inflation. The wait time to see a doctor is now many weeks or months.

One of our top priorities is to get a handle on our economy and our personal finances. If Biden is re-elected the present pattern will only continue and will bury our country. Let us join our efforts and support Trump #47 to change this around. 

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