With the world in the throes of a severe international inflation, the United States, the world’s largest economic power, may have lost much of its capacity to ameliorate the problems. With the election of Kevin McCarthy as Speaker of the House, the nation’s more unruly conservatives are now in charge of the congressional body that controls America’s budget.
A number of personal feuds were battled in the speaker’s campaign, but there are a number of national issues that will need close attention. One is longstanding opposition to immigration, especially from Black and Latino migrants. Unfortunately, the number of American workers has declined because of Covid losses, and their number has not been replaced through immigration. According to economists, this could lead to a recession if it becomes excessive.
Payroll taxes finance Social Security, the primary retirement fund of American workers. Conservatives have opposed Social Security since it was established, and some Republicans have indicated that they have a new interest in eliminating the program.
Be assured that conservatives will also oppose other programs to benefit Blacks and working-class Americans, such as less-expensive health care, quality public education and child care.
