Inflation is hurting

As most readers know, the high price of gas and diesel is one of the driving forces pushing up inflation. 

The country runs on petroleum. Our refineries are running between 93-94% capacity and experts say it’s doubtful that production rate can be increased anytime soon. Further, oil companies have no desire to invest more or expand due to government regulations. The Biden administration’s plans to reduce the use of petroleum and fossil fuels for generating electricity and operating gasoline and diesel-powered vehicles and trucks is another factor.

Going green makes a lot of sense for our climate, but you can’t do it overnight. It takes time, technological advancements, and consumer education. The way we are operating is putting undue financial pressure on the consumer.

Some studies indicate inflation is costing the average family with a home mortgage and one or two cars, including all household expenses, $350 more per month. Where does that extra money come from? Savings accounts are not overflowing and the majority of American people are living paycheck to paycheck.

Wages are going up for many workers, but it’s not adequate to overcome the current inflation rate. 

Some people are taking extra part-time jobs. Some people are going back into the work force. Others who haven’t been in the work force are starting.

In Minnesota, our Legislature could help out its citizens, but lawmakers can’t agree to use the budget surplus to refund and eliminate some taxes. 

Do we have to wait for the next election to elect legislators to represent us? Maybe we need to remind them what we are going through and suggest some solutions. After all, it’s our money!

Following the Covid pandemic, a number of businesses and industries were shut down and supplies ran short. In many cases, the supply chains have yet to catch up. Auto manufacturers continue to be plagued by a shortage of  chips for automobiles. We have shortages in many other areas of technology that’s used in all aspects of our manufacturing.

If the economy enters a recession, which is likely, housing will be slowed and the recent increase in interest rates is already having an effect. Yes, we see a great deal of new construction of apartments and condos, but they are also going up with higher rents, which will make it more difficult for people to afford. 

All this will force people to reevaluate their lifestyle, spending habits and find cost-saving methods.

Cutting waste, improving efficiencies, careful planning and budgeting will all be essential.

You can learn from others. For example, when seniors go to lunch they often take half of it home for dinner or lunch the next day.

Another way to put it- we may have to add more water to the soup and cream the peas for the toast. I remember that from my childhood.

THE SPRING EQUINOX on June 21st was our longest day of the year. Can you imagine the days are already getting shorter? 

COMMUNITIES ALL AROUND are celebrating graduations, schools had all-night parties, and all types of events are being held to celebrate achievement.

We can be very thankful we have so many opportunities for public and private and continuing education. All of the teachers, athletic directors and administrative staff make this happen for our youth. It often takes teachers years to see results and they welcome that openly. I encourage everyone who has had a good educational experience to thank those involved.

Gene Johnson is publisher emeritus of Press Publications.