The Sidney Sun-Telegraph - Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper

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By Steve Erdman
47th District 

Straight From Steve: Pink Postcards

 

September 29, 2022

All of the signs are indicating that the U.S. economy is entering into a long-term recession.

Last Wednesday the Federal Reserve raised the key interest rate by three quarters of a point and raised the short-term interest rate from 3 percent to 3.25 percent, the highest level since 2008.

Add to this the Biden Administration’s plan for student loan forgiveness plus $13.7 billion in assistance to Ukraine, $22.4 billion to fight COVID-19, $4.5 billion for a Monkeypox vaccine, and $6.5 billion for disaster relief, and you have a recipe for a long-term recession.

All of this bad news means...



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