It took a hot second, but even entities on the political left have begun to discover how Washington’s uncontrollable spending has made life worse for American families.
In recent weeks, both The New York Times and International Monetary Fund (IMF) — no raging conservatives — have analyzed how persistent budget deficits caused by Washington’s spending have exacerbated inflation woes. The moves suggest a solution underpinned by a return to basic common sense: namely, that if Washington finally gets its own fiscal house in order, families in the Heartland will have an easier job restoring order to theirs.
Deficits Underpinning Inflation
The Times reported on the IMF’s fiscal warnings about Washington’s borrowing. In its evaluation of the American economy, IMF noted that the budget deficit “is out of line with long-term fiscal sustainability” and adds about half a percentage point to the inflation rate.