President Nixon instituted a 90-day wage and price freeze in August 1971. Inflation was rampant, and people were suffering financial difficulties. My husband and I lived through that period. Most workers’ wages were frozen. Most prices were frozen. Wage and price controls did not work perfectly, but they did cool inflation.
President Biden should initiate a nationwide price freeze on wages, prices, government benefits and government spending. He won’t. It is more important that he gets reelected.
Inflation is rampant. Workers demand higher wages. This increases the cost of manufactured goods and services. In times of inflation, the government increases benefits for poor people. The government shouldn’t fund any new programs right now.
All of these things should be frozen for a short time. Perhaps then the vicious cycle of inflation will cool. We must all suffer; otherwise, it is unfair to some Americans, and the freeze won’t work as well.
Kathleen Bollinger
Fawn