Inflation is country's biggest problem

The biggest problem with today’s economy is inflation. For decades the Federal Reserve bank has lowered the prime interest rate to make more money available. The problem with this is when more money is available prices increase and you have higher inflation. The Federal Reserve should start slowly raising the prime interest rate to curb inflation or possibly reversing inflation.

Also I’m tired of Congress always trying to balance the budget on the backs of the retired people by cutting or reducing the Social Security COLAs, or by the chained CPI which is designed to reduce benefits that are already being received. Come on Congress start reducing budget items that are paid for with tax dollars, such as Foreign Aid and payment to the U.N.

Congress could also eliminate tax incentives to oil companies. These incentives were given to help keep the price of oil products lower. Since they’re now being used to enhance oil company profits, they should be terminated.

ARLIE KELLOGG

Sandpoint