- Our first story is allabout the empty shelves

that we're all seeing in stores.

Record-breaking backlogs at our ports

and a severe shortage of truck drivers.

The breakdown in our supplychain is hurting the economy.

- And if you haven't already,

you're about to feel thepinch in your wallet.

So what steps is the White Housetaking to break the logjam?

Senior Washington CorrespondentTara Mergener explains.

- The White House andbusinesses from coast to coast

are warning the supplyheadaches will get even worse

as the holidays approachand demand gets higher.

And this year prices willno doubt be higher, too.

To help get things movingagain, the President says

he's brokered an agreementfor the port of Los Angeles

to become a 24-hour sevendays a week operation.

- You're hearing a lot aboutsomething called supply chains

and how hard it is to get arange of things from a toaster

to sneakers to bicycles.

- [Tara] Big retailersand shipping companies

are also pledging to expand their hours.

President Biden meeting withWalmart, UPS, and Home Depot.

- This is the first key step

toward moving our entirefreight transportation

and logistical supply chainnationwide to a 24/7 system.

- LA and Long Beach ports account for 40%

of shipping containers that enter the US,

both suffering fromrecord-breaking backlogs.

- What happens with therailroads in the Midwest

and warehouses across thecountry affects the number

of ships that everyone seesout here in the harbor.

- [Tara] High consumer demand

plus a shortage of truck drivers.

- We're about three hours late.

- [Tara] All this isjacking up shipping costs.

- A year ago, it cost$1,900 to use a container.

Now it's costing $16,000because they're using

the container for storage onthe ships and in the ports.

- [Tara] And adding up to higher prices

at the checkout line.

- [Dan] They are passingall these expenses

on to the consumer, they have no choice.

So we haven't even begunto see the inflation

that is going to come from all of this.

- [Tara] Factory workers andother supply chain issues

are also keeping manyitems off store shelves,

but the shortage is expected

to continue through the holidays.

- To keep your shelves full,

we have to order eight weeksin advance, eight to six weeks.

- Basically what I'vebeen telling people to do

is start shopping early,even before Halloween.

- [Tara] But the Treasury Secretary

is telling Americans not to panic.

- I think there's no reasonfor consumers to panic

about the absence of goods

that they're gonna wannaacquire at Christmas.

- The latest inflation readingshows it edged up again

last month to 5.4% withthe biggest increases

in food, shelter, and gas.

Now, according to a bankrate survey, 89% of Americans

now notice these higherprices at the cash register,

and 66% say they are hurtingfinancially because of them.

In Washington, I'm TaraMergener, CBN News.

- Well, there's nothingquite like a member

of our government and this one,

the head of the Federal Reservetelling us not to panic.

It just induces panic

when you hear that come out of her mouth.

This is unbelievable, what'shappening in our economy,

and it's not just the goods in the store,

and it's not just the empty shelves.

It's not just the supply chain.

If you go to the gas station today,

get ready for some sticker shock.

And I've got some bad news for you

if you depend on natural gasfor heating, get to be prepared

to pay a lot higherrate coming this winter.

Natural gas prices haveincreased 100% since January.

So that's a doubling

and there seems like there's more to come.

It's good news the administrationis paying attention to it,

but is it too little too late?

And how can you get ridof this kind of backlog?

And how does the federalgovernment induce people

to drive trucks and dealwith supply chain issues?

This is a really incrediblesituation we're in,

and get ready for more inflation.