President Biden’s deal to keep the railroads running has gone off track. That means the threat of an economically crippling nationwide railroad strike is back as a very real possibility.
On Monday, one of the largest railroad worker’s unions rejected a White House-brokered deal, citing lack of schedules and paid sick time.
Any strike of a week or more would send shockwaves through the U.S. food supply, and a prolonged strike could have a crushing impact on the economy, escalating the already impending threat of recession.
About 40% percent of U.S. freight is moved by rail, including coal, construction materials, automotive parts, and raw goods used in manufacturing and food production.
A railroad shutdown could result in shortages across the board and cost the economy about $2 billion a day.
Many businesses only have a few days’ worth of raw materials on hand. They also have very…
