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Defense spending more than doubled from 2000 to 2019, from ~320B to ~730B, while inflation grew on average 2.10% per year during the same time period. It is tr
by fosk 4y ago
Defense spending more than doubled from 2000 to 2019, from ~320B to ~730B, while inflation grew on average 2.10% per year during the same time period.
It is true that defense money gets redistributed across the population and into the economy, but that has always been the case and inflation was in check.
The fact that you are insinuating that this has anything to do with the current inflation problem is misleading. In 2023 we are dealing with the fallback of Covid fiscal policies, not defense spending.
- light_hue_1 4y ago> The fact that you are insinuating that this has anything to do with the current inflation problem is misleading. In 2023 we are dealing with the fallback of Covid fiscal policies, not defense spending. No. I'm stating that medicare+defense spending is far larger than either covid relief or student loan forgiveness. By an order of magnitude per year. The fact that you don't think the thing that's 10x bigger can cause inflation, but you think the minor foonote that is covid spending can, shows that this is 100% ideology-driven and not fact-driven. Even basic back of the envelope economics shows you're completely off.
- Dylan16807 4y ago> The fact that you don't think the thing that's 10x bigger can cause inflation, but you think the minor foonote that is covid spending can, shows that this is 100% ideology-driven and not fact-driven. What a weird comparison. If it's true that something doesn't cause inflation, then if you make it 10x as big it still probably won't cause inflation. That's not an illogical position at all. 10 times zero being zero is not holding ideology over facts. And even if we say defense spending was a significant part of the 2% inflation, that doesn't mean it also caused the huge spike we just had.