Letter to the Editor: The truth about the inflation we are experiencing in the United States | SummitDaily.com
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Letter to the Editor: The truth about the inflation we are experiencing in the United States

Max Miller
Breckenridge

Inflation Causes:

1. Deficit spending (government spending more than it takes in) 
2. Increases in money supply. (Which is basically the total of all the money in circulation.)

In 2020 the annual deficit was nearly $3 trillion. In 2022 the annual deficit about $1 trillion.



In 2020 money supply increases were over 35%. In 2022 money supply increases are about 5%. 

You may ask why are the decreases not solving the inflation situation?



What takes decades to create doesn’t stop overnight. It will take years as it did last time. 

Stimulating the economy by increased deficits causes inflation, and we’ve overindulged in that for the last 15 years. It’s good for the economy, but not inflation. Deflating the currency will deflate the economy. 

Biden has made remarkable progress in slowing inflation, he certainly didn’t create it. The numbers tell the truth. 


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