How will you work to help ease the impacts of inflation on Alaskans?
U.S. Representative
Mary Peltola
Democratic candidate for U.S. Representative
Alaska is more expensive to live in than the Lower 48 and inflation has been devastating to individuals, families and especially to those living in rural Alaska where the cost of living is the highest. We are finally seeing a slight reduction as tourism increases and the supply chain recovers from the pandemic, and the Inflation Reduction Act will help reduce costs even more. I do believe there is additional action that can be taken to address inflation and the overall cost of living in Alaska by looking for efficiencies in supply chains, supporting local businesses and food production, improving transportation throughout the state, and further growing the economy in Alaska through responsible resource development.
Sarah Palin
Republican candidate for U.S. Representative
To get inflation under control, we need to rein in wasteful spending, implement pro-growth policies so supply can catch up with demand and unleash domestic energy production. Trying to spend our way out of an inflationary cycle is an outdated, long-debunked approach — all you get is stagflation like we had in the 1970s, which makes everybody worse off.
Chris Bye
Libertarian candidate for U.S. Representative
Inflation for Alaskans is tied directly to government spending and energy costs.
Thomas Sowell and Milton Friedman figured inflation out decades ago. Two easy steps: 1) stop printing money and 2) reduce government spending. The more dollars printed or “digitized” the less value the dollar retains. The more debt the federal government carries, the weaker the dollar becomes, and without self-discipline, eventually, the dollar will collapse or becomes devalued increasing the cost of everything.
Congress must pass the Balanced Budget Amendment. Such an amendment would require them to prioritize spending within an attainable budget. This would mean special interests would have to compete with actually necessary spending.
It is very important to encourage state self-sufficiency by reducing federal control of Alaskan resources, particularly regarding energy costs. Self-sufficiency in producing necessary amounts of heating oil and vehicle fuels would reduce costs. This would include renewable and nuclear energy sources as well.
An easy win: wood heat — simple, time tested and cost-efficient, but made costly because of rules imposed upon Alaskans by D.C. bureaucrats requiring costly kiln-dried wood only in many areas of North Star Borough. This is an economic hardship imposed upon us and should be removed.
Nick Begich
Republican candidate for U.S. Representative
Inflation’s root cause can be traced directly to an unprecedented level of economic stimulus and wasteful spending introduced by Congress, exacerbated by an overly accommodative Federal Reserve which increased the money supply in order to purchase newly issued treasury debt (i.e. “money printing”). Economic strength is not driven by loose fiscal and monetary policy, rather it is driven by fundamental factors of labor force participation, productivity, smart investment, innovation and comparative advantage. In this respect, Alaska’s resources have the potential to play a critical role. Failing to develop these resources leaves the nation’s future to the whims of rivals and adversaries. We must pursue an all-of-the-above development strategy for Alaska resources as a basis for restoring domestic, vertically integrated supply chains that will drive U.S. manufacturing, enhance job creation and deliver generational prosperity. To do this, we must make an articulate and persuasive case for Alaska. Inflation cannot be solved by printing more money, increasing taxes or creating new social programs that will require both. Instead, we must unleash America’s production and restore discipline in the Congress in order to bring inflation under control.