We have been hearing claims by our federal government that there is low to no inflation in this economy. The Federal Reserve continues an "easy money" policy, cranking up the printing presses at the U.S. Mint when the government needs more money to operate than it collects in taxes. And long term interest rates are the lowest in recent history. And deficits are at all time high levels.
Yet gasoline and heating oil are up 40 percent since last year (and we can't blame the oil companies for the price of oil products). Blue Cross health insurance is up 14 percent, and now, in a recent communication from the publishers of The Sun, the price of this paper has risen 16 percent over last year, and has risen 48 percent since 2008! No inflation? Wrong!
These are only a few examples of the results of the perilous financial path our economy is taking. Until overspending by the federal and state governments is curbed and even rolled back, we haven't seen anything like the drop we can expect in our standard of living from rampant inflation.
When will the people wake up to this peril? Elections are around the corner, it is time to throw out the current set of legislative leaders from both party's and try something different.
Sam Davis, Towson