Ortiz: Democrats’ Bad Policies Are Responsible for Today’s Historic inflation

Alfredo Ortiz of Job Creators Network writes in TheHill that blame for the historic inflation this country is facing and its painful consequences can be laid directly at the feet of Democrats and their myriad bad economic policies:

The bill for bad Democratic policies is coming due in the form of historic inflation. Last week, the Bureau of Labor Statistics (BLS) announced consumer prices increased by 9.1 percent over the past year, a 41-year high. Runaway prices are causing real wages and living standards to meaningfully decline. Over the previous year, real weekly earnings have fallen by 4.4 percent, a greater drop than even during the Great Recession.

. . .

This painful inflation and its broader economic consequences directly result from bad Democratic policies. Exhibit A: Trillions of dollars in reckless spending in 2021 when the economy was recovering led to too many dollars chasing too few goods. Exhibit B: The numerous government programs such as expanded unemployment insurance through most of 2021 that encouraged Americans not to work, reducing labor supply and pushing up costs.

. . .

As I argued in these pages earlier this year, runaway inflation should discredit Democrats’ fiscal and monetary policies. Next time Democrats push for deficit spending, radical green policies, welfare expansions, or quantitative easing, Americans should respond, “We tried that approach already and it caused the worst inflation in two generations.”

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