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Trillion-Dollar Deficits Explain Why Inflation Keeps Hitting Americans

Posted on AllSides April 19th, 2024
From The Right

Economists sounded surprised recently when inflation remained above expectations for the third straight month, likely keeping interest rates elevated for the foreseeable future. If they looked in Washington’s direction, they shouldn’t be. Two reports from the Congressional Budget Office (CBO) explain the dilemma our economy faces. In the short term, significant and persistent deficits caused by Washington’s spending keep fueling the inflationary fire. In the longer term, the debt accumulated by all those deficits will make our economy stagnant for future generations. The first CBO report examined the federal government’s...

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