Some People Never Learn

President Biden must be among them. His Administration announced that they have approved the release of $186 Billion from the infrastructure bill to be spent and another similar amount next year.

Inflation is the highest in 40 years. It is not temporary, as the President was telling us early this year.  The Federal Reserve released a paper that said that half of the inflation in the US is because of the government’s fiscal policy (i.e. spending). That means that government spending causes inflation more than covid, the war in Ukraine and the other reasons that anyone has given.

So President Biden’s solution is to pump more money into the economy. He is either among the slowest learners in the world on something that professional economists keep telling him, or he is lying when he says that fighting inflation is a priority. It can only be one or the other.

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