Inflation is a nasty disease that inflicts cruel costs upon the most vulnerable in our society. Like many diseases such as diabetes and liver cirrhosis, inflation is preventable with common sense behavior.
For centuries economists taught that too much government spending would result in rising inflation. Liberal economists developed a new economic model called Modern Monetary Theory that insisted that increased government deficits would help lower employment and thus avoid increases in inflation.
Over the last few years, politicians who were happy to redistribute taxpayer money were handed a golden opportunity to throw caution to the wind and increase government spending. Under the guise of saving the economy from the effects of Covid-19, they turned the government funding spigot wide open and deluged the taxpayers and governmental bodies with free money. The amount of money distributed into our economy dwarfed past government programs. The level of fraud associated with the federal government’s Covid-19 response was massive.
Simultaneously with this giveaway, the Biden administration began putting restraints on private businesses’ investments in developing new oil and gas reserves. The Biden administration asserted that restricting oil and gas expansion would result in higher fuel prices which would force consumers to switch to clean energy. This strategy was developed in faculty offices in various universities across the country. The professors lacked a real world understanding of how our economy works. Their unwavering opposition to fossil fuel consumption blinded them to the potential negative consequences of their strategy.
The increase in government spending coupled with the restrictions on oil and gas exploration has resulted in higher fuel and consumer goods prices. This is having a devastating impact on the daily lives of American citizens.
Some families are having to choose between food or fuel. Family vacations are being canceled because of this runaway inflation.
The American public has rightfully become frustrated with the results of this liberal social experiment. The Democrat politicians have realized the mistake they made and have attempted to distract the American citizens by referring to this calamity as “Vladimir Putin inflation.”
Ronald Reagan once said “the problem with our Liberal friends is not that they’re ignorant; it’s just that they know so much that just isn’t so”. The American consumer is suffering today because liberal politicians and economists “did not know what they did not know”.