Colorado Politics

Grand Junction Daily Sentinel: There is good news after all

We in the news media can become unnaturally focused on whatever is shiny, on fire or breathtaking. We – especially cable “news” on TV (which actually is not news at all) – sometimes portray our world as nasty, brutish and terrifying. The current state of the news is no exception. With inflation, the omicron variant and gridlock in Congress it can seem like the country is falling apart, but there are a number of positive developments that have not gotten the attention they deserve.

The economy

Inflation has been the big economic news for months now, as we’ve seen prices increasing. It was recently reported that inflation has hit its highest rate in nearly 40 years.

This is all causing anxiety for consumers as their budgets are stretched thin during the holidays. But the inflation increase, which is a concern, comes with incredible economic growth.

The Federal Reserve is projecting the economy to grow 5.9 percent for 2021 and 3.8 percent in 2022. Real GDP growth hasn’t grown more than 3% in this country in the past 20 years.

Wages have also grown during this period, though not quite as fast as inflation has risen. Still Americans’ disposable income grew 3% (after inflation) through October, according to economic consultant Robert J. Shapiro, writing in Washington Monthly.

The Labor Department announced that weekly claims for unemployment benefits hit a 52-year low this week. A survey of large employers found that pay could increase by an average of 3.9% next year.

Economists are also projecting that inflation will ease next year as supply chain issues are resolved.

All of this shows the strength and resiliency of the American economy. We move forward despite extraordinary challenges, no matter who is in control in Washington.

Omicron

A few weeks ago the news of the rise of the omicron variant was everywhere. There was speculation that it could be even more transmissible than delta and possibly cause more severe illness.

Now, after a few weeks of watching, it appears that omicron isn’t the raging monster mutant that everyone feared it would be. Researchers had worried that it could evade COVID-19 vaccines. However, those vaccines, especially with a booster shot, have proven highly effective against omicron.

Omicron, also may be less severe than delta. We still need to be cautious and scientists are collecting more data, but so far no one has died with this variant that we know of.

Congressional gridlock

It may seem like nothing is getting done in Congress, but important things have been happening.

First, the bipartisan infrastructure has been passed and signed. Next year, projects funded through this important legislation will start rolling out and long overdue improvements to our roads, bridges and broadband infrastructure will begin.

Furthermore, Democrats and Republicans came together to clear the way for the U.S. debt ceiling to be raised. This is a critical step. Defaulting on our debt would have caused an economic meltdown like this country has never seen. It seems we won’t have to worry about that happening.

All of this is to say, things aren’t as bad as you often hear or read about in the news. It’s good to be aware of challenges and issues facing us, but it’s also important to not be beaten down by constant negativity. The world isn’t as bleak as it is often presented.

Grand Junction Daily Sentinel editorial board

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