From WSJopinion: Today’s high rate of inflation is simply a foreshadowing of what could come if the U.S. is forced to monetize the bulk of its national debt, writes RepHensarling
Wonder Land: State legalizations of gambling and marijuana prove that the goal of governments today is mainly to take, rather than help. Images: Getty Images Composite: Mark KellyThe national debt this month reached $30 trillion. Not only is this the largest debt in U.S. history in dollar terms, but the ratio of debt to gross domestic product is 119%—the largest it’s ever been. And things are only getting worse.
Now Americans are beginning to experience inflation, one of the primary costs of rapidly growing levels of national debt. Every day we hear that supply-chain challenges and the pandemic are to blame, but they aren’t the only culprits. “Inflation is always and everywhere a monetary phenomenon,” Milton Friedman said. To help finance $5.
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