The Washington Post

Let’s save before we spend

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In her Sept. 16 op-ed, “Both parties’ pet economic theories are kaput,” Megan Mcardle illustrate­d the tailspin both political parties have sent our economy into without a realistic plan to drag us out of it. With national debt skyrocketi­ng, pumping more money from our coffers while passing the Inflation Reduction Act was comical. We no longer have a “get out of recession free” card, a theoretica­l afterburne­r that can use unemployed workers and economic stimulus to pull our economy up. Food costs have increased by roughly 10 percent, and fuel prices are through the roof. The White House needs to face a reality of rising prices and adapt its strategy accordingl­y.

Inflation has slowed our annual economic growth, and investors are scared, with many holding on to their money in preparatio­n for the next wave of rapid price increases rather than investing in the stock market, further hurting our economy. This cycle will continue until our leadership can enact an effective plan that will address the issues at hand instead of just throwing money at the problem.

Wrangling inflation and limiting excess spending, rather than investing in expensive bills, should be the No. 1 priority of our economic relief plan.

Ethan King, Fairfax Station

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