Congress Is Spending at an Unsustainable Rate and Inflation Still Too High

Households and businesses grapple with high prices as the Federal Reserve remains optimistic about receding inflation. The consumer-price index has risen 18.9% from pre-pandemic levels, with lower-income households bearing the brunt. The Fed’s policies have inflated home prices, benefiting the wealthy but making housing unattainable for many. Root causes include excessive deficit spending, the Fed’s strategies, and supply constraints. Current efforts to address inflation are insufficient, with both monetary and fiscal policies needing urgent reevaluation.