August 11, 2022

Team USA

By Glenn

Just when you thought it couldn’t get any worse, it gets better.  Since Putin’s invasion of Ukraine, the global recovery from Covid 19 stalled.  Global traders panic, driving up prices and clogging supply chains.

Market fears of a new, and wider, disruption never materialized, however.  Energy supply remained strong, as Europeans carefully rebalanced their energy mix.  The global economy slowed but did not collapse.

The temporary panic in the energy market hit American consumers hard.  The gasoline panic drove prices at the pump up for several months, but they have now been falling for over two months

Just as the price increase had a ripple effect on other goods and service, the decline has had the opposite effect. Prices are returning to normal and inflation is under control. 

That is not the only good news.  After years of searching, United States intelligence agencies tracked down and killed Osama Bin Laden’s right hand crony.  Ayman al-Zawahiri’s death brought justice and demonstrated American determination.

American service men and women from wars past also found justice.  Over Republican objections, Congress passed, and President Joe Biden signed, the PACT Act.  The act reverses years of neglecting our troops.

Veterans from Vietnam and Global War on Terror had suffered from exposure to toxic chemicals.  Know substances like Agent Orange and unknown substances from burn pits slowly rotted veterans from the inside out.  The PACT gives them access to treatments for the first time in decades.

Relief is also on the way for Seniors.  The Inflation Reduction Act allows Medicare to negotiate lower prices for prescription drugs over the next ten years.  It also caps the out of pocket prescription expenses at $2000 per year. 

Democrats had tried to do more, but Republicans block them.  For example, Democrats wanted to cap insulin prices at $35 per month.   Republicans objected and forced this cost saving plan out of the bill. 

All of this action is against a back drop of a strong jobs report in August.   Shattering expectations, American employers added 528,000 jobs in July.  The unemployment rate fell to 3.5%.  American really is back to work after the Covid recession.

We all have lots of good news to cheer.  Our team is on the field competing against the world.  Our team is winning.  Will you join the celebration?  USA! USA! USA!

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