Bill Dawson: Partisan gridlock responsible for financial challenges, delaying progress

To The Daily Sun,

Can some good come of this picking at each other’s weaknesses? Should we be tolerant of those impeding the production of goods and services?

Among others, the U.S. Chamber of Commerce thinks it is a deafening and resounding "no." As I watched the chamber’s president during her annual report to the members recently, several points were clear by the time the program was over. Uppermost was there was distress with both political parties. Extremes in both parties are getting in the way of sensible policy formation both domestic and international.

She put forward a plan for progress:

1. Legislators should reject partisan gridlock.

2. There should be a pursuit of an actionable agenda to strengthen America.

3. Those in government should resist polarization and regulatory overreach while acting smartly and strategically to move the country forward.

After the president completed her address, key topics of the meeting were voiced by the CEOs of Nasdaq and Marriott International as well as two members of the House of Representatives. Representing the Republicans was David Joyce from Ohio and representing the Democrats was Abigail Spangberger from Virginia. All agreed that 2023 will be a year filled with challenges. They listed the following:

1. The possibility of a recession

2. A continuing shortage of skilled workers

3. Continuing over-regulation which tends to slow domestic programs

4. Geopolitical Uncertainty around the globe

Although supply chain issues are easing and energy prices are coming down, there is a looming job crisis. The key causes of the labor shortage are:

1. Dwindling legal immigration numbers

2. Early retirements spurred on by the pandemic

3. Barriers like childcare are keeping people from returning to the workforce

It will be great if the legislators cooperate, the Federal Reserve gets it right, labor fills the vacancies and inflation eases. A lot of ifs.

Bill Dawson

Northfield