Inflation Blame: Americans Or The Governments Spending Habits?
Inflation distorts our civilization; prices rise, wages stagnate, and savers are robbed. It’s not a fair deal for the people that work hard and play by the rules. But whose fault is it? Biden’s US Secretary of the Treasury Janet Yellen appeared on the Late Show with Stephen Colbert to discuss a range of issues both political and personal. When asked by Colbert to explain the reasons behind the worst inflation the US has experienced in 40 years, she claimed that Americans’ increased spending was a major contributor due to the Covid-19 lockdowns. Furthermore, supply chain issues and the war in Ukraine can sufficiently explain inflation, Yelle argued. So, Democrats want to blame you but are is it really the government’s outrageous spending that’s causing inflation to hit a record 40-year high? The government loves to spend your money, but are they printing cash just as a workaround to raising taxes? For more information, Lars spoke with EJ Antoni, who is a research fellow for Regional Economics in the Center for Data Analysis at The Heritage Foundation.