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Steve Moore?Published November 17, 2021 12:12pm EST
How Biden's policies ignited inflation
Inflation has soared from 2% to 6.2% in nine months
By Stephen Moore FOXBusiness
Inflation, as we all learned from our elementary economics textbook, is too many dollars chasing too few goods.
Hold that thought and everything else falls into place.
Because this simple and inviolable law of economics and finance explains in one sentence why the Biden government spending bills have accelerated the rise in consumer prices to their highest rates in nearly 30 years.
Remember: there have been three massive spending bills flushed into the economy this year – already -- and mostly financed with debt: the $1.9 trillion blue state bailout bill back in the spring and the $1.2 trillion infrastructure/green energy bill.
How Biden's policies ignited inflation
A simple and inviolable law of economics and finance explains in one sentence why the Biden government's spending bills have accelerated the rise in consumer prices to their highest rates in nearly 30 years.www.foxbusiness.com
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