The article “Inflation equals big pay cut…” (June 4) unfairly singles out Illinois for bad treatment, mainly because it relies on the opinions of the Illinois Policy Institute, a right-wing think tank associated with Republican political causes which has an agenda right now to make Illinois look bad.
“We know that wage growth is slower in Illinois than in other states” says Bryce Hill, IPI Senior Analyst. Slower? Illinois has the highest Midwest wage growth in actual dollars and continues to earn top wages for our region.
“It is very likely that inflation is taking a larger chunk out Illinoisans’ income.” Is it? Or with the largest average weekly wage ($1,274) in the Midwest, do Illinoisans generally spend more than others because they have it?
Nevertheless, Hill recites “…you have the fundamental problem which is we threw a bunch of money into the system and …we didn’t see the expected contraction….” In Rightspeak “throwing money at” is what you call government aid to average Americans. When it goes to the wealthy or corporations it’s called “job creation” or “investment.”
Moreover, U.S. inflation is at 8.4%. The EU, which did not “throw money,” is at 7.8%. Our rate normally runs 1% above Europe’s. Inflation is mainly supply side driven and our economy has expanded compared to the rest of the world because of the “thrown money.”