Andy Barr has a poor understanding of fiscal policy, voters’ needs

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Rep. Andy Barr speaks after seeking re-election to another term in Kentucky's 6th congressional district at an event held at Campbell House in Lexington, Ky., Tuesday, Nov. 8, 2022.

Rep. Andy Barr speaks after seeking re-election to another term in Kentucky’s 6th congressional district at an event held at Campbell House in Lexington, Ky., Tuesday, Nov. 8, 2022.

swalker@herald-leader.com

Male pattern baldness. This is the only thing that was not attributed to President Joe Biden in Rep. Andy Barr’s 10/26 op-ed.

What are the minimum requirements for a congressman? The first is to use the editorial space of their hometown newspaper for a discussion of ideas across a range of opinions with a crack of daylight. That, or at least a thin explanation of the claims and conclusions behind them.

A careful reading of Rep. Barr’s essay reveals a contradiction. In his second paragraph he blames “excess demand” for the current inflation, in paragraph eight he recommends supply chain remedies to stabilize prices. He transforms the cliché into reason, non-sequences into analysis and his hyperbole is a crutch. Working within such a narrow spectrum demonstrates a disinterest in debating what are, at least, explainable ideas.

Although dry and tedious, the detail below disproves Rep. Barr’s assertions about current inflation.

An academic definition of inflation is a continuous rise in the level of prices. The fight against the spread of SARS-CoV-2 has slowed and in some cases stopped global trade. Supply chains have broken down and supply chain suppliers have slowed down. In the United States, demand fell and only returned to pre-Covid levels once vaccinations were received and social restrictions eased. Like the 1970s inflation, the 2020s version has a demand component and a supply origin. Lack of raw materials reduced finished goods and inventory supply lagged. The fundamental problem, the lack of supply, emerged as excess demand.

Profit is an integral part of inflation and prices have risen, in part because companies have had to deal with overhead costs with reduced inventory. The speculative trade in energy, food and housing is the source of most of our inflation and encourages monopoly and its price gouging. The Sauds control the price of oil and a night’s rest at a London baccarat table is reason enough for the price of a barrel to rise.

Congress has spent wisely in the economy to Support request. People paid mortgages and bought fuel and food; companies have met the expenses. Rep. Barr blames demand for the current inflation, but demand will be the cause of Where a component of any continued price increases and it offers no plain language defense to its claim.

He writes, “Green New Deal policies and financial regulation intentionally designed to redirect capital away from the US energy sector have caused an energy crisis, limiting energy supplies, exacerbating inflation and driving electricity costs up. boom and record prices at the pump. For our English-speaking friends; the “US energy sector” lacks the ability to finance itself, causing an “energy crisis” in the form of low supply and high cost. Was there ever a time when the oil industry was pressured into action and unable to pay for it?

Part of the rest of Rep. Barr’s screed is that Ashland Park makes fun of brown people who bring drugs and crime to the United States and how Democrats encourage police killings. The eleventh paragraph is particularly convoluted, but I only have six hundred words to use.

The US dollar has its origins in Article One, Section Eight, of the US Constitution. Congress should oversee currency for the public good, including its use for non-speculative purposes. It should commit and create resources for sound infrastructure and for production and employment. Barr’s call for austerity is a political choice born of donor influence and a misrepresentation of both the logic of fiscal policy and the origins of current inflation. Kentucky’s 6th District is represented by a financial services lobbyist posing as a congressman and it’s time for a change.

Todd Kelly-Recent
Todd Kelly

Todd Kelly is a nurseryman and gardener from Lexington.

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