The Register poll should be a lesson for policymakers that Iowans understand that inflation is directly caused by government spending.
As regular ITR Live listeners and viewers know, our own John Hendrickson has opinions. Most of these opinions cover topics within the ITR Foundation issue set, but some do not. We believe John’s thoughts need to be shared with a broad audience and we also think those thoughts shouldn’t have to wait for a time-consuming editing process. So, we’re going to try something new. What follows is the first edition of The Hendrickson Report, where John Hendrickson offers his personal take on any number of subjects. The goal is to deliver the final product in a timely manner, without a high degree of polish. We hope you enjoy…
The Des Moines Register/Mediacom Iowa poll demonstrates that many Iowans view inflation (64 percent), government spending (63 percent), and immigration (57 percent) as critical issues.
Hendrickson on Inflation:
Iowans, just as many Americans across the nation, are growing weary of inflation. Whether it is higher prices at the grocery store, at the gas station, or just in everyday life, Iowans are feeling the devastating financial impact of inflation. Inflation is a hidden tax, which destroys savings and eats away wages. To make matters worse, Iowans have battled with violent spring storms, which have resulted in the loss of live and destruction of property for some, and in higher insurance costs for many.
The current inflation is a direct result of the unnecessary massive stimulus spending that occurred under both Presidents Trump and Biden. These stimulus measures, along with the Federal Reserve’s “easy monetary policy,” have fueled inflation.
Hendrickson on Government Spending:
The Register poll should be a lesson for policymakers that Iowans understand that inflation is directly caused by government spending. Both Republicans and Democrats can share the blame for the out-of-control spending that is plaguing the nation. The national debt is approaching $35 trillion, which translates to every American needing to pay at least $100,000 to clear the debt. Under President Biden it is estimated that the federal government is increasing the debt by $1 trillion every 100 days.
The Congressional Budget Office (CBO) recently updated its projections for Fiscal Year 2024 and is estimating deficit spending will reach $1.9 trillion, $400 billion higher than originally projected. The out-of-control spending is reaching a dangerous tipping point as the interest payments on the debt are starting to not only crowd out budget necessities, but also make it more difficult to fund future priorities.
Hendrickson on Immigration:
Iowans are also concerned with immigration and the disaster at the southern border. Governor Kim Reynolds has responded by sending the Iowa National Guard and law enforcement to help Texas in their effort in policing the border and the legislature responded this session in trying to pass legislation to confront illegal immigration.
Iowans are concerned about immigration from a security and an economic perspective. Whether it is drugs, human trafficking, gangs, or terrorists, an open border is a threat to the security of Iowa and the nation.
Hendrickson’s Closing Thoughts:
It is unfortunate the policymakers are questioning whether or not they can afford to renew the Tax Cuts and Jobs Act next year. Without that Act’s renewal, American families and business are going to be hit with larger income tax bills. This is especially frustrating when the federal government seemingly doesn’t question the billions that are being spent on various special interest projects related to climate change, or subsidizing wars across the globe. Maybe Cal Thomas said it best, “Funny that government can never afford to cut taxes or reduce spending, but taxpayers are never asked why they can afford higher taxes.”
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