Comments by "Deborah Freedman" (@deborahfreedman333) on "Biden calls reporter a 'wise guy' over inflation question" video.
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Yes, inflation is bad. But, Trump's profligate spending, while cutting taxes, played a big part in today's inflation. Israel used to be the same, people bought everything on credit, because if they waited until they received their wage, it had less value. If you put your money in the bank, you were a freyer, a sucker. Inflation was never that bad in the US, not in the 80s, and not now. But, the problem is the result of the government handing out money it didn't have. And that occurred in the previous administration, as well as Biden's. Many more people think the previous administration was the epic disaster, not this one.
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Many countries are suffering inflation, because many countries pumped money into their economies, by giving out money to make up for job loss. If you heat up an economy, by pumping in unsecured money, inflation always follows. Government expenditures can't be infinite, as revenue isn't infinite. There is a lot more agreement among virologists, than economists, because real scientists don't torture math the way economists do. Nissim Baruch (z"l) was the Israeli economist, who brought that country's inflation under control. He did it by reducing the automatic wage adjustments of civil servants, and raising the interest rate. After inflation was brought under control, their economy soared. The US has tamped down inflation by raising the prime lending rate. It works, and needs to be done.
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