Ad
Go
New
Find
Notify
Tools
Reply
  
Inflation -- whose problem? Login/Join 
Picture of Phil
posted
I keep hearing how Biden is supposedly to blame for inflation (a global phenomenon!) because of "deficit spending."
- a few questions:

1. Deficit spending during the Trump years was $3 trillion. Did that contribute to the problem?

2. Citizens have received many benefits from the government during the past few years, contributing to the deficit. Those of you complaining: are you willing to . . .
a. Return the thousands of dollars of Covid stimulus money you received?
b. Reimburse the government for at least part of the "free" Covid vaccines, tests, and medications you received?
c. Reimburse the unemployment support money you received but didn't really need, so you banked it?
d. Reimburse part of the savings you received from the Trump/R tax cuts in 2017, which blew a hole in the budget?

3. Businesses, are you willing to:
a. Return all or part of the PPP loans you received from the government that you really didn't really need? Aren't you glad these aren't being closely audited? Aren't you *really, really* glad these turned out not to be loans, but grants?
b. Return all or part of the tax savings you've received since the 2017 tax cuts?

I could go on, but the point is obvious. People like "free stuff" until the consequences of its provision begin to accumulate. In the case of inflation, I'm not even sure how much deficit spending is the problem -- excess demand for limited supplies is more to the point, but that's been exacerbated by all the "savings" people have accumulated during the Covid years.

Maybe inflation is a kind of logical-consequence-tax that we ought to be willing to pay for a little while as we reap the benefits of government largesse?

And, obviously, if Biden is the blame for deficit spending, then why not Trump, or keep going back, Obama, and, especially, W, who inherited a balanced budget and left Office with the economy in tatters?
 
Posts: 3970 | Location: Wichita, KS | Registered: 27 December 2004Reply With QuoteReport This Post
  Powered by Social Strata