Affordability, or rather the lack thereof, has been a core focus of Americans for many years.It played a major role in getting President Donald Trump elected in 2024.
But as there hasn’t been much improvement in the day-to-day cost of living and prices generally continue to rise, many people are turning to those who caused the problem to be their savior — the government, via the Democratic Socialists of America (DSA).The latest example is the widespread lamenting of the price of fast-casual meals, like burritos, across social media, with Americans complaining that they can’t even grab a quick handheld meal without it breaking the bank.The cause, though, is always framed incorrectly.It’s blamed on capitalism or greedy companies.
But the reality is that the cause is directly blamable on the government and the exact policies the Democratic Socialists are pushing.SENATE CONFIRMS KEVIN WARSH AS FED CHAIR AS TRUMP'S ECONOMIC VISION COMES INTO FOCUSThe federal government has racked up around $40 trillion of debt, a number so large that it’s difficult to fathom.But for context, it’s more than seven times the size of the entire economy of Germany, the third-largest economy in the world.
That $40 trillion debt load has been enabled by the Federal Reserve and its willingness to print money and monetize the debt, as it did during the COVID-19 era, adding trillions of dollars to its balance sheet.The burrito has become a metaphor for affordability.But the fix could make prices far worse.
(Getty)In layman’s language, that means the government, with the Fed, have devalued the money you have earned and have wrecked your purchasing power.At the state and local levels as well, bad laws and policies have added to the costs.Policies like increasing the minimum wage have had a direct effect on the cost of living.
When wages are artificially increased at the lowest levels, that works its way up through a business, as an experienced business manager expects to make mate...