The kitchen-table issues are paramount on voters’ minds as they head to the ballot boxes today. The latest White House spin is that inflation isn’t their fault. It’s just an act of nature or something like that.
But Bidenflation didn’t happen as the natural course of events. Stop us if you’ve heard this many times before on these pages, but inflation sprang to life when the multi-trillions of “stimulus” money drenched the economy.
Trump is certainly partially to blame. He and House Speaker Nancy Pelosi hand shook a deal that added $900 billion in December 2020. The spending was entirely unnecessary, but then Biden came in and you can see the multiple stages of debt-financed government spending. Add it all together and $4.5 trillion was airdropped into the economy.
Only a moron – oh, and 14 Nobel-prize-winning economists – would have been surprised that this incited runaway inflation.