Think of the problem like this, if we can print enough money to pay for a 2 trillion stimulus bill and soon to be 3 trillion infrastructure bill plus all the other deficits we run every year, why not print enough money to pay everyone $50/hour....
I know it’s insane but given what people are taught these days, i can see liberals advocating something like this..
Right, but I wonder how many people could simply say what is wrong with government spending over the GDP.
Answer: Inflation, the hidden and relentless tax since around 1900.
I also wonder how many could simply say what inflation is.
Answer: Inflation is government printing too many dollars (beyond the yearly GDP) into the money supply causing prices to go up because the dollar becomes less valuable.
Easiest example of this artificial flooding of the money supply is this idiotic “stimulus”. Nothing was produced or exchanged to inject the money supply with these newly printed “stimulus” dollars. Takes time (which works in these jackals’ favor), but after a few months when these dollars have integrated into the economy, prices will go up, “but nobody knows why”.
Our crazed & mostly unconstitutionally bloated government spending is the direct reason for prices relentlessly increasing since around 1900. Nobody talks about it except Milton Freidman who is dead and Steve Forbes who I guess nobody listens to. There is a direct relation between the increase of government spending and prices going up “unexplainably” - which can easily be explained by the resulting inflation.