Midterm Elections May Offer Last Chance to Avert Economic Disaster: Experts

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News Analysis

Amid a continuing rise in inflation, excessive federal spending, and growing public alarm about the state of the economy, the Nov. 8 midterm elections may represent one of the last opportunities to attain a legislative majority willing and able to reverse catastrophic fiscal policies pushing the country toward an implosion similar to the debt crisis that befell Greece in 2009, according to one economic expert.

Inflation continues to play a destabilizing role and exert worsening strains on voters. The latest figures indicate that in September, the core personal consumption index, excluding food and energy, rose 0.5 percent compared to August, marking a 5.1 percent increase over the course of 2022. During the same month, Americans’ income had risen 0.4 percent, unadjusted for inflation, while their overall spending went up 0.6 percent.

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