Again, if you can't see the downsides of the government working at odds with the federal reserve by dumping inflationary spending on top of rate hikes, then maybe you're in a household that makes too much money to feel the real impacts of this inflation and the rate hikes in response.
Rich people spending money comfortably is what keeps prices pegged high during inflation. Essentially, the rich can take the price hikes while the working class suffers and has to slash their budgets. If we are paying off the debt of the richest Americans, do you think that *constricts* or *increases* their ability to spend at a time when we drastically need to cut spending to cool inflation?
The government *needs* to do inflationary spending to keep Ukraine in this fight at the tune of $63B+/year. The government *needed* to spend on emergency CV relief between 2020-2022. Those are all additions to inflation in an over-heated economy where too much money is chasing too few goods. The government did *not* need to spend money on rich kids who went to college so that they have more money in their budget to spend and in turn throw more gasoline on the inflationary economic fire.
Sep 27, 2022
at
3:44 PM
Log in or sign up
Join the most interesting and insightful discussions.