Charlottesville, VA (CVILLE RIGHT NOW) – Dr. Edwin T. Burton, a chief economic analyst and professor at the University of Virginia, weighed in on the latest Consumer Price Index (CPI) data, government waste, and tariff policies in a recent discussion. With inflation remaining a concern, Burton noted the unsettling trend of rising prices. “Well, if you look at this number, it is pretty scary,” he said. “It’s 0.5% for the month of January… If you analyze that number, you get 6%.” He emphasized that inflation remains above the Federal Reserve’s target and could lead to economic challenges. 

Beyond inflation, Burton addressed concerns over government waste and a lack of financial accountability in federal spending. Citing reports of Social Security payments being issued to individuals listed as 150 years old, he highlighted the need for stricter auditing. “It really is time the taxpayer had some idea where his money’s going,” he stated, supporting efforts to increase transparency in government budgets. 

Burton also shared his skepticism about the impact of tariffs, warning that they could further strain the economy. “Tariffs are not a good idea,” he remarked, adding that increasing trade barriers with Europe, China, and Canada could exacerbate economic instability. Meanwhile, he acknowledged the political complexities of cutting government spending, noting that both Republicans and Democrats have historically contributed to rising expenditures. As inflation and federal budget concerns persist, Burton’s analysis underscores the critical economic challenges ahead. 

Listen to the full conversation here: