Most Eligible Voters Want Government to do This to Fight Inflation
With midterm elections just around the corner, it’s no surprise that the economy is top of mind for many Americans. And according to a new poll, the majority of eligible voters say they would support more stimulus checks in order to fight inflation.
According to a poll conducted by Newsweek, roughly 63% of respondents agree that Uncle Sam should issue another round of stimulus checks to battle inflation, including 42% of respondents who strongly agree. Meanwhile, a meager 18% said they disagree, while 15% neither agree nor disagree. The poll was taken among eligible voters two weeks before the midterm elections.
In response to the lockdown-induced recession, lawmakers approved multiple rounds of stimulus checks over the past two years, including $1,200 payments issued through the CARES Act in the spring of 2020. An appropriations bill passed later in the year created $600 payments, while the American Rescue Plan greenlit $1,400 payments.
The findings of the poll come as many Americans are still feeling the effects of the last few years and the “you-know-what”. Millions of people lost their jobs due to shutdowns and restrictions, and many are struggling to make ends meet.
In addition, the Federal Reserve has pumped trillions of dollars into the economy in an effort to keep it afloat during these difficult times. As a result, there are concerns that all this new money could lead to inflation down the line.
Now…who can point out to me the flaw in all of this?
The flaw is that the government printing money is what leads to inflation in the first place!
John Locke reported,
The current bout of inflation stems from massive spending: in 2020 and 2021, the government spent the equivalent of 27% of GDP on “Covid relief” and “stimulus,” the second-largest fiscal response as a percentage of GDP of any industrialized nation. And this spending was largely paid for by newly created money from the Federal Reserve.
In just 21 months, from February 2020 to November 2021, the money supply increased by the same amount it did in the nearly 10-year period preceding it, from July 2011 to February 2020.