Another blame the Democrats letter from Mr. Kahl. Yes, inflation has been very high and in part it was due to an increase in government spending. Why don’t you ask yourself why did the government need to spend? Because of a worldwide pandemic that killed millions. Was inflation high only in the United States? No, it reached highs in many other countries (no Democrats there). A couple of pages into the same edition of the Daily Journal the article title was: “High rents are forcing small businesses to raise prices or change location.” That is one cause of inflation Mr. Kahl. By the way, on that same page, “Dow inches up to another record high.”
Biden inherited a growing economy with little inflation after Trump signed a COVID relief bill for $2.2 trillion. Biden then increased spending by trillions which caused the highest inflation in 40 years. This inflation reduced peoples purchasing power by the amount of the inflation. What government giveth with hand it takes back with inflation. That's why inflation is called a "hidden tax."
Worst of all, the government is now engaged in a Ponzi scheme of using borrowed money to pay the interest on previously borrowed and money to be borrowed. The dangers are not only high inflation but a devalued dollar which would hurt our national security and risk our loosing the dollar being the world’s reserve currency which is worth hundreds of trillions to the US. This is what we risk if we put Kamala and the Democrats in charge. One only needs to look at the slow growing, low opportunity economies in the EU to understand this.
Ed, the hypocrisy of your opinions is profound. All one has to do is do a perfunctory search online on deficits to find that Trump, in each of the two years PRIOR to Covid, had deficits of more than $2 trillion each year. Thus, he already set a precedent for the years that followed, with over $8 trillion for his four years which were historically high by comparison to any other presidents. How ironic the Republican party had no concerns about deficits during his years but now it is a paramount issue now.
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Biden inherited a growing economy with little inflation after Trump signed a COVID relief bill for $2.2 trillion. Biden then increased spending by trillions which caused the highest inflation in 40 years. This inflation reduced peoples purchasing power by the amount of the inflation. What government giveth with hand it takes back with inflation. That's why inflation is called a "hidden tax."
Worst of all, the government is now engaged in a Ponzi scheme of using borrowed money to pay the interest on previously borrowed and money to be borrowed. The dangers are not only high inflation but a devalued dollar which would hurt our national security and risk our loosing the dollar being the world’s reserve currency which is worth hundreds of trillions to the US. This is what we risk if we put Kamala and the Democrats in charge. One only needs to look at the slow growing, low opportunity economies in the EU to understand this.
Ed, the hypocrisy of your opinions is profound. All one has to do is do a perfunctory search online on deficits to find that Trump, in each of the two years PRIOR to Covid, had deficits of more than $2 trillion each year. Thus, he already set a precedent for the years that followed, with over $8 trillion for his four years which were historically high by comparison to any other presidents. How ironic the Republican party had no concerns about deficits during his years but now it is a paramount issue now.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.