Republican Senator Rand Paul, who has long served as a voice of reason, has recently issued a staggering forecast regarding the nation’s economy, based upon all the prevailing trends domestically and internationally.
Specifically, Paul believes that inflation is nowhere near cooling down; on the contrary, the Kentucky Senator finds double-digit inflation, coupled with even higher interest rates, to be the likely outcome in the near future.
During a Facebook Q&A discussion with his constituents, Paul warned about the very real possibility of an imminent recession, coupled with high unemployment.
“I wish I had better news,” Paul continued, “but we will get through this as a country.”
As of April, the consumer price index (CPI) is 8.3 percent, surpassing the Dow’s already-negative forecast of 8.1 percent. Not since 1983 have CPI levels this high been recorded.
The CPI for May is set to be released on Friday, which may have a pronounced effect on the markets, as well as additional economic expectations for the future.
Despite the dire economic future in the near-term, Paul expresses optimism in the long-term, citing the nation’s inherent strength and resiliency to support his claims.
“We are a strong, resilient country, strong, resilient people,” Paul declared, “we just have to get people in charge of our government who understand that we have to live within our means.”