I still think my statement stands and, maybe, gov’t spending is second. As a percentage of GNP, gov’t spending hasn’t changed as dramatically as inflation. From 2013 to 2020, inflation was generally 2% or less, but gov’t spending was huge. However, the inflation rate after Biden killed the XL Pipeline increased 5x the previous year and has remained high ever since. (https://www.usinflationcalculator.com/inflation/current-inflation-rates/)
While gov’t spending contributes to inflation, the data suggest other forces are at work in the Biden Inflation and I think the pervasive effects of his decision on XL are still rippling through the economy.
Our debt (secured by the “dollar”) has been causing inflation for a very long time despite what Ivy-league idiots and MSM stock shills tell us.
It has become far more pronounced under Covid and Biden but government spending also spiked.
Trump is right - energy is the one sector of our nation that can right the ship quickly but we still have a lot of water to bail out caused by insane government spending.
I am firmly for an “all of the above” energy strategy that frees the economic engine that sector represents, lowers costs and raises productivity, and provides Americans an economic boost.
I said it 6 years ago and I will say it again.... I would love to see Trump push for a nuclear renaissance with modular reactors and newer technology. Export the energy we use for electrical generation and power our grid with hydropower and nuclear (the greenest of them all).