Perry Weed: US needs to boost productive capacity to tame inflation

Why are we not producing here in America what is being consumed in America? It was obvious in early 2020 that COVID-19 presented demand side and supply side challenges. We boosted demand with stimulus checks and unemployment benefits. To meet that demand we relied on foreign producers and inadequate supply chains. This pushed up inflation. Two years after the pandemic, we still are not even talking about producing in America what we consume here. To reverse inflation, we need to restore US production in the industries of today and tomorrow. Consider, as an example of the possibilities, that it was the US that invented the semiconductor industry and dominated it for many years.