To the Editor:
In the July 18th paper, Mr. John Krull was again an apologist for the unbelievable failures of Biden’s and the Democratic controlled Congress’ economic policies. No surprise. There is no need to write a long letter to explain the reason for inflation — we all know the truth. Thankfully two Democrat Senators and all the Republicans saved the nation and the Democrats from a worse financial disaster by refusing to join in the crazy spending bills fiasco that Biden was pushing. As it is the Democrat reckless spending and the use of COVID monies for non-COVID leftist agendas is destroying our economy. The people that are paying the highest price are the everyday working folks that are struggling to make ends meet.
Mr. Krull says we have the worst inflation numbers in 40 years and then points out Reagan was President at that time 40 years ago. That is true but misleading. The Consumer Price Index inflation numbers for the last two years of the Carter administration were 11.3% in 1979 and 13.5% in 1980. Reagan took over in January 1981 and the inflation was reduced to 10.3% that first year; and then in the succeeding years 1982 through 1988 it was 6.1%, 3.2%, 4.3%, 3.5%, 1.9%, 3.7% and 4.1% per the stats from the Federal Reserve Bank of Minneapolis.
Paul A. Hass
Franklin
