Senator Bonham: So bad, Even $ stores are closing

Inflation is so bad – even Dollar Stores are struggling
By Oregon State Senator Dan Bonham,

Earning reports for last quarter are showing that our nationwide Dollar Stores – Dollar Tree and Dollar General to be specific – are struggling, citing “economic struggles of their shoppers”.

A news report suggested that “many Americans remain unhappy with today’s sharply higher prices for such necessities as gas, food and housing compared with their pre-pandemic levels. Many have cut spending on nonessentials to save money for things like groceries.”

Even middle-class shoppers are opting out of shopping at a Dollar Store, according to store executives – signaling we are in trouble at every level.

As I always say, policies matter. Decisions that affect our businesses, services and products highly affect costs for consumers. Such as:

– Disrupting supply chains by pushing business operations out of state or country makes products more expensive (This includes materials to build homes, driving up home prices)
– Increasing regulations on markets such as agriculture and gas make food and filling up your car more expensive
– Even, as well intended as it may appear, minimum wage spikes are increasing prices in a way that has removed affordable options for many

The free market is the only way to keep prices low. Government intervention in markets, such as the housing crash of 2008, has proven time and time again to be a disaster. As long as our governments keep pushing policies that affect the marketplace, these prices will continue to rise.

We need to get people back to feeling they can participate in the economy again. For being one of the wealthiest and most advanced nations in the world — our people sure are struggling.

As we continue the next month of smoke and mirrors on what is and isn’t important, it is critical to remember that currently our residents’ basic needs are not being met – to the point they don’t even have an extra dollar to spare.