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Inflation was caused by increased government spending, no?
by ivewonyoung 2y ago
Inflation was caused by increased government spending, no?
- tzs 2y agoThe last COVID stimulus package added from 1 to 4% to inflation, but that was transitory. The wider rise was largely due to other factors such as supply chain disruptions from the pandemic and Russia's invasion of Ukraine. The latter significantly raised oil prices worldwide which in turn raised costs for all kinds of things. Here's an article that covers a lot of the factors [1]. [1] https://www.poynter.org/fact-checking/2024/joe-biden-kamala-harris-worst-inflation-history-cost-families-28000-fact-check/ https://www.poynter.org/fact-checking/2024/joe-biden-kamala-...
- ivewonyoung 2y agoA source with less partisan politics involved: https://mitsloan.mit.edu/ideas-made-to-matter/federal-spending-was-responsible-2022-spike-inflation-research-shows https://mitsloan.mit.edu/ideas-made-to-matter/federal-spendi...
- jquery 2y agoI trust a survey of economists over a random study. That study might be right, but it also might be wrong, and I don't have the expertise to say which.