The Speedy Road To Inflation

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   Sharlee01posted 2 weeks ago

   
   
   Article -  The Road to Inflation: How an Unprecedented Federal Spending Spree Created Economic Turmoil    https://www.heritage.org/budget-and-spe … ee-created
   
   The article is collaboratively authored by two economists with significant expertise in the field of economics. Their combined background lends credibility to their analysis of the inflationary trends discussed in the piece. This article is meticulously crafted, delving into the intricate factors contributing to the current inflationary environment. Packed with detailed analyses, accompanied by insightful charts, it offers a comprehensive exploration of why inflation has become a prevailing concern. Its length may be indicative of the depth of research and the complexity of the topic. For those intrigued by the nuances of our fluctuating economy, this article promises to be a compelling and enlightening read, offering valuable insights into the dynamics shaping our economic landscape.
   
   Let's get to know the Authors of the article -
   
   "David A. Ditch, a Senior Policy Analyst at The Heritage Foundation, focuses on federal spending and fiscal policy in the Grover M. Hermann Center for the Federal Budget. He has appeared on local radio stations across the country, and his work has also been featured on FoxBusiness.com, the Los Angeles Times, the St. Louis Post-Dispatch, and many other publications.
   
   Prior to joining Heritage, Ditch was a Budget Analyst for the Senate Budget Committee where he oversaw appropriations and agriculture. He has also worked for the Senate Small Business Committee, Rep. Todd Young, Rep. Mark Sanford, and Rep. Raul Labrador.
   
   Ditch received his master’s degree in Political Management from George Washington University in Washington, D.C., and also holds a bachelor’s degree in Economics and Political Science from the University of Rochester in Rochester, New York. Originally from Bloomfield, New York, he currently resides in Arlington, Virginia."   Source   https://www.heritage.org/staff/david-ditch
   
   "Richard Stern is the Director of the Grover M. Hermann Center for the Federal Budget at The Heritage Foundation.
   
   Prior to joining Heritage, Stern was a Congressional staffer for over seven years. During that time, he served as a policy staffer for the Republican Study Committee, where he was the staff lead for their Budget and Spending task force and spearheaded their work to create their FY 2020 and FY 2022 federal budgets.
   
   He also served as Legislative Director for Representative Tom McClintock of California and was a Legislative Assistant for former Representative Steve King of Iowa.
   
   Stern is a graduate of Emory University and holds a bachelor of arts in Economics."
   Source   https://www.heritage.org/staff/richard-stern
   
   Thoughts...

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2. 75

   Ken Burgessposted 2 weeks ago

   It really is simple.  When you have an Administration/Government willing to spend 1 TRILLION dollars more every 100 days than the Nation is taking in, you are creating inflation.
   
   Or just as correctly defined, you are devaluing the dollar.
   
   Or put another way, you are deflating the dollar's worth.
   
   Or to state correctly, you are screwing over every hard working American... making their savings, 401ks, etc. worth less... making the cost of all goods and services go up.
   
   Why?
   
   To fund the Biden Administration's foreign wars.
   
   To fund the Biden Administration's decision to let in tens of millions of foreigners (migrants) and give them American taxpayer support for food, housing, medical and travel expenses.
   
   To fund NGOs and Non-Profits that work overtime to undermine the best interests of Americans and America.
   
   To spend money on things the budget cannot afford and that Americans do not need.  While at the same time, not putting that money towards Social Security, Veteran's care, and so many other essential services that don't have Lobbyists and don't pay off the corrupt politicians we have running the country today.

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   1. 88

      Sharlee01posted 2 weeks agoin reply to this

      Hey Ken, I appreciate you checking out the article. I had confidence you'd come through for me. Though it was quite long, I found it really helpful, especially since I'm not too familiar with economics. After reading it, I definitely feel like I've gained a better understanding of the topic.

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         Ken Burgessposted 2 weeks agoin reply to this

         You don't have to go far in that article to find the one sentence that sums it all up:
         
         "The scale of the spending and degree of economic malfeasance was followed quickly by economic turmoil that has reduced purchasing power for American households and created tremendous economic uncertainty."
         
         But you know the most important fact, the most telling rather is this:
         
         "In early 2020, the U.S. economy was enjoying a period of sustained low unemployment and strong real wage growth, with the largest gains accruing to the lowest-income earners. "

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         1. 88

            Sharlee01posted 2 weeks agoin reply to this

            So agree, the economic landscape of the United States in early 2020 was characterized by remarkable vitality. Unemployment rates were impressively low, underscoring a robust job market that offered plentiful opportunities for individuals across various socioeconomic strata. Equally noteworthy was the tangible increase in real wages, a boon particularly for those at the lower end of the income spectrum. This convergence of low unemployment and significant wage growth not only symbolized economic strength but also hinted at a more inclusive prosperity, where the benefits of growth were reaching those who traditionally struggled to make ends meet. It was a period marked by optimism.
            
            Following the promising economic conditions of early 2020, the unforeseen advent of the COVID-19 pandemic dramatically altered the trajectory of the United States' fiscal landscape. In response to the unprecedented challenges posed by the pandemic, the Biden administration implemented significant spending. In my view, amidst these extraordinary circumstances, there was a failure in Biden's decision-making to heed cautionary signs regarding the potential consequences of excessive spending. Roadblocks and economic warning signals were ignored. He lacked the needed prudence and foresight to navigate economic policy, especially during times of crisis.

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            1. 75

               Ken Burgessposted 13 days agoin reply to this

               And that was brought by Trump.
               
               Despite almost the entire DC establishment working to undermine his Administration's every effort.
               
               Despite the Justice System in Democrat controlled States bringing court cases against his every move.
               
               I hope people realize that this is the End Game for America...we are in it... we choose to continue our experiment with Property Rights, Liberty and Opportunity for all... or we choose Tyranny and Communism.
               
               We choose... Western Civilization... or we choose to kill it.
               
               This is what the 2024 election is really about... a win for the Democrat ticket will be an end to this Republic. You will own nothing and you will like it... or else. 
               
               We have been long sliding into this... it didn't happen overnight... but one only has to look at what has happened to Canada (66% Capital Gains Tax, illegalizing Guns, improper word usage is now a crime that can land you in jail for life)... or the EU... where the biggest cities in the Netherlands are over 60% migrants... which we seem to be trying hard to make happen here.

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               1. 88

                  Sharlee01posted 13 days agoin reply to this

                  I completely agree, and your statement encapsulates the situation perfectly. The choice between preserving Western Civilization or allowing its demise is stark. We're confronting some truly reprehensible individuals who will likely resort to any means to stop Trump. Their frustration is palpable thus far.

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