‘Shrinkflation’ ignores the true problem: deficit spending

Originally published at the Allentown Morning Call

President Joe Biden and U.S. Sen. Bob Casey deflect blame for high inflation away from the true cause: their own policies. They should be embarrassed by this lame blame game.

“Inflation is always and everywhere a monetary phenomenon,” said Nobel-winning economist Milton Friedman. Expanding the money supply — or “printing money” — causes inflation. That happened when Biden and congressional Democrats went on a spending binge, ignoring warnings of impending inflation.

The result: Overall consumer prices are up nearly 18% since January 2021.

Read more at the Allentown Morning Call