Rep. Patrick McHenry (R-NC) diagnosed causes of the bottlenecks restricting America’s economic recovery, offering a cure rooted in unleashing the free market.
In an op-ed for CNBC, the lawmaker noted that inflation and unemployment are particular areas of concern:
Prices are rising and they are rising fast — unsound fiscal policy and government spending are contributing to these higher costs. Families are feeling it when they buy groceries, fill up their tank, or book a plane ticket to finally reunite with relatives after a year and a half in lockdown. Democrats say it’s transitory and prices will come down. Republicans say inflation is about to take root.
Throughout the spring, jobs numbers fell short of predictions, setting off alarm bells that the recovery was lagging. The Biden administration seized on a better-than-expected June jobs report that showed 850,000 jobs had been added. But this statistic misses the larger picture. The labor force participation rate remained unchanged at 61.6%, the number of long-term