'The decreasing value of the dollar further discredits the big-government approach to managing the economy.'
It’s a black eye for Democrats, because it directly results from their Keynesian fiscal religion and Modern Monetary Theory madness.
Today’s painful inflation should put a nail in the coffin of MMT, the belief held by many Democrats that deficits don’t matter, because money grows on trees—or at least on Federal Reserve printers. Indeed, the inflation cost of MMT is proving high and painful. This philosophy is also responsible for the federal debt hitting $32 trillion, the net interest on which threatens to be a massive drag on the economy moving forward.
The decreasing value of the dollar further discredits the big-government approach to managing the economy. Next time the government calls for some massive social spending program, small businesses will be wary. “We tried that approach already,” Americans can say, “and it resulted in runaway inflation, falling real incomes, and decreased living standards.”
Yet the discrediting of left-wing fiscal and monetary policy is cold comfort for today’s small businesses picking up the bill today for Democrats’ supposed free lunch of dramatic government spending. Alfredo Ortiz is president and CEO of Job Creators Network. This column is adapted from his new book,
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Watch Live: House speaker stalemate drags on as McCarthy loses historic 10th ballotRep. Ken Buck, a Republican who supported Rep. Kevin McCarthy in earlier votes for House speaker, did not vote on the ninth ballot and will miss any subsequent rounds Thursday for a planned medical procedure, his office said.
Leer más »
House begins historic 10th vote for speaker as GOP infighting drags onThe House is beginning its 10th vote for speaker, surpassing the nine votes it took the last time an election went past one ballot in 1923.
Leer más »
Seen and heard: Tommy Lloyd extends historic home winning streak, Kylan Boswell shinesNews, notes and stats from No. 5 Arizona's 70-67 win over Washington at McKale Center.
Leer más »
Historic mural restored at Chicago's Second Presbyterian ChurchThe theme of the New Year’s Day service at Second Presbyterian Church was a call to parishioners about renewal in their lives. Titled “A New Heaven and a New Earth,” it could have been about the historic church itself.
Leer más »
Jan. 6, 2021, Two Years Later: Jailed Rioters, Historic House Investigation and a Surviving DemocracyThe country certainly isn’t out of the woods,' said Linda Fowler, a government professor at Dartmouth College, as the U.S. marks two years since the violence of Jan. 6, 2021.
Leer más »