Not only could you handle it, it’s actually beneficial. Inflation - if matched with equivalent increases in wages - eats away at debt over time, because your debt is locked in at the point where you take it on, but your buying power relative to that debt continues to increase.
Our enemy is not inflation. Inflation can be our friend. Our enemy is stagnant wages that no longer rise in step with productivity.
Everyone needs to see this graph and really understand what our problem is.
Let’s not forget around 1971 is when the USD got off the gold standard. This allowed the US to print more money and that surely never caused any problems.
Not only could you handle it, it’s actually beneficial. Inflation - if matched with equivalent increases in wages - eats away at debt over time, because your debt is locked in at the point where you take it on, but your buying power relative to that debt continues to increase.
Our enemy is not inflation. Inflation can be our friend. Our enemy is stagnant wages that no longer rise in step with productivity.
Everyone needs to see this graph and really understand what our problem is.
Let’s not forget around 1971 is when the USD got off the gold standard. This allowed the US to print more money and that surely never caused any problems.
1972… the pride and joy of the united states, richard nixon
Then you can see where it tries to stay close until Reagan and it splits faster than a cheerleader.
The Heritage Foundation was founded in 1973, which just so happens to be the dividing line in this graph.
Reagan was the first president that really allowed the Heritage Foundation to go wild.
There’s a good video about their history here: https://www.youtube.com/watch?v=8eeCPRD0Hgg