What caused inflation in this instance was the uncontrolled spending/printing of money by our government, and their mandates to shutter large portions of our economy even after COVID was shown to be less of a risk than initially feared. It’s absolutely true that Trump was still president when it began and COVID was having a serious impact on our economy. What wasn’t Trump’s doing was the continued spending and closures well after COVID had been dealt with. We continued to pass multi-trillion dollar spending bills under the blanket of COVID relief which in reality had next to nothing to do with actual COVID relief. Instead, our government saw a once in a lifetime opportunity to have what was essentially a blank check, and oh boy did they capitalize on that. Take a look at Biden’s baby, the Inflation Reduction Act. It’s a prime example of this. Even now proponents admit it did little to stifle inflation.
What does any of that have to do with inflation?
What caused inflation in this instance was the uncontrolled spending/printing of money by our government, and their mandates to shutter large portions of our economy even after COVID was shown to be less of a risk than initially feared. It’s absolutely true that Trump was still president when it began and COVID was having a serious impact on our economy. What wasn’t Trump’s doing was the continued spending and closures well after COVID had been dealt with. We continued to pass multi-trillion dollar spending bills under the blanket of COVID relief which in reality had next to nothing to do with actual COVID relief. Instead, our government saw a once in a lifetime opportunity to have what was essentially a blank check, and oh boy did they capitalize on that. Take a look at Biden’s baby, the Inflation Reduction Act. It’s a prime example of this. Even now proponents admit it did little to stifle inflation.