To the Editor:
I have to admit all the economics classes I took in college now, in my mind, have to be rethought.
Economics, the way I was taught at Northern Illinois ages ago, we’re neither Democrat or Republican. If you have demand in excess of availability, prices rise. Conversely, with lower demand and higher supply, prices go down.
Apply these simple principles toward today’s inflation problem. A year ago we as a nation were energy independent. The Anwar wilderness was being explored, the Keystone pipeline was being completed to ensure a steady supply and finally we were not begging OPEC to increase production, we did not need their oil.
Enter Joe Biden and the green new deal. Let’s destroy the oil industry. Let’s pretend that we do not need oil to manufacture everything from medical equipment to toys. It is a life blood for not just us but for the world. Why are we killing licenses to drill and frack? Why are we killing pipelines? Why are we paying for oil from the Middle East?
All I can understand is that Biden doesn’t drive a car or purchase groceries. Joe along with Durbin and Duckworth and the entire Democratic Party, with a couple of exceptions, are waging war against the lower and middle classes in this country.
I beg Joe and company to go back and open a high school economics textbook.
Maybe then you can figure out how to get the prices of everything to get back to where they belong.