The economy continues to be a concern for all Americans. A new economic model from Bloomberg forecasts that there is a one hundred percent chance that next year the country will face a recession. We are already seeing local and national businesses preparing for a downturn by laying people off and curtailing spending. 

The Bureau of Labor Statistics reported that consumer prices rose 8.2% from September to September. Government economists did not expect inflation to continue to grow at that level. The president claims that his 'Inflation Reduction Act' will curb inflation. 

Idahoans and all Americans can painfully see that we are paying more for essential consumer goods. Although it won't lower prices, most political experts predict that the continued rise of consumer prices will cause the Democrats to pay the fee in the midterm elections. 

Is there ever a good time to absorb a price increase? The bad economic news could not come at a worse time for consumers as Americans get ready to pay more for Halloween Candy, Thanksgiving Turkeys, and Christmas presents. 

What is the cost of the runaway inflation?

To put it simply, the cost of energy and government spending. The president's energy policy has caused the price of gasoline to explode. The government continues to spend money, increasing the size of the government.

Inflation has been on the rise for some time. As you can see here, the costs of goods for the Fourth of July were up considerably.