Stop handing out free money (and other ideas for getting the economy back on track)
By Avraham Shama, Opinion Contributor — 10/17/21 08:00 AM EDT
Supply chain shortages and inflation are hurting consumers and Democratic election prospects in 2022 and 2024. The Biden administration, no doubt aware of this possibility, is taking action to address the ill-effects of scarcity and higher prices. Recently, the administration mandated that the Port of Los Angeles remain open 24 hours a day so merchandise idling in shipping containers can be delivered faster to fill empty supermarket shelves and consumer shopping carts.
But this response may be coming too late, because shortages and inflation have created uncertainty in the minds of consumers that cannot be easily reduced.
While the administration has handled the COVID-19 pandemic well, it has been much less successful in dealing with the negative effects of the ensuing adjustments, including shortages, inflation, supply chain disruptions, high demand and uncertainty.
The widespread shortages were caused by sudden and rapid increases in consumer demand and by manufacturers and suppliers that were too slow or unable to respond swiftly.
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https://thehill.com/opinion/finance/577053-stop-handing-out-free-money-and-other-ideas-for-getting-the-economy-back-on
