Responses: 1
The dollars pumped into the economy by the Biden administration certainly exist. The inflationary pressure of money supply growing faster than GDP began in the Trump administration in March 2020 when the economic stimulus of $271 billion while businesses were being shutdown. They then doubled down in December of 2020 by distributing $141 billion. The Biden administration in a single distribution almost matched the total Trump distributions by sending out $402 billion with businesses still shut down. Businesses were reopened about 3 months after that distribution.. The distribution of funds should have been means tested to reduce the impact on demand. When the growth of money supply is greater than GDP, inflation is inevitable
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