WHY IS INFLATION SO HIGH (& WHAT CAN BE DONE TO REVERSE IT)?

Inflation, as measured by the Consumer Price Index (CPI), is currently 8.5% and appears to be increasing.   The working and middle classes are being seriously hurt and the government doesn’t appear to care.  It blames everyone but itself, though it is responsible for most of it.  How, exactly, did the government accomplish this?  And if the government is totally responsible, shouldn’t the government be able to fix it?

Government deficit spending is the main culprit. It recently began in earnest with “The American Resue Plan of 2021” which cost $1.9 Trillion.  Not the oil companies, not Covid,  not Russia, but President Biden’s Administration, as well as almost all Democrats in the House and Senate, along with a few RINOs (Republicans In Name Only) who supported and voted for spending trillions that the U.S. did not have, so it borrowed it, bringing the National Debt to $30 Trillion.    The Federal Reserve, which controls the U.S. money supply, is also to blame because it should have begun raising Federal interest rates long ago to slow down rising inflation.

Another culprit is the huge increase in the price of oil  which has enriched and enabled Russia and impoverished many Americans.  Here again, the more-than-doubling the price of a barrel of oil is totally due to the Biden Administration because of its war on fossil fuels (oil, natural gas, coal).  Perhaps in 25 years from now a mostly fossil-free U.S. might be feasible, but currently the world does not have dependable and affordable technology to achieve this goal.

So what can be done now to significantly reduce inflation?  A few things, but it will take awhile to see results.  In the meantime, people need to economize in every area of their lives to get them through this period of very high inflation.  To begin, the government must not pass any more huge spending bills since most of the money would be borrowed, which of course would only increase inflation.  Also, the Federal Reserve needs to begin significantly raising interests rates and continue.  This probably will cause a recession, but it must be done and is the price for reckless spending.  Next, voters must vote out of office Democrat Representatives and Senators to serve as a foil to President Biden’s out-of-control spending.  All of these things should stabilize inflation.  To actually reduce it to under 2%,  voters must vote in Donald Trump in 2024 with his pledge to the Nation and its people that he brings inflation down to under 2%.  President Trump is the only politician that I believe can do it!

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