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Inflation as a Fiscal Limit

A paper released at the same Jackson Hole, Wyoming, summit where Fed Chair Jerome Powell recently spoke makes the case that federal government spending needs to come down in order that Federal Reserve policy can do its job in bringing down our current high inflation.

The central bank can’t do the job itself and could even make the matters worse with rate hikes.

The paper's conclusion about the impacts of the current fiscal policies on inflation:

they ... contributed to the surge in fiscal inflation. Increasing rates, by itself,
would not have prevented the recent surge in inflation, given that a large part of the increase was due to a change in the perceived policy mix. In fact, increasing rates without the appropriate fiscal backing could
result in fiscal stagflation.

Where will Biden Administration and the Democratic congress cut spending? Does anyone know of any pending legislation proposing such cuts? I'd love to read it.

The link to the paper is here:
https://www.kansascityfed.org/Jackson%20Hole/documents/9037/JH_Paper_Bianchi.pdf
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easterniowegin · 51-55, M
Democrats don't cut spending. Conservatives project when we think cutting spending is an option.
If dems want to impact the budget they raise taxes, never cut spending.
samueltyler2 · 80-89, M
@easterniowegin when have so called conservatives lowered deficits by cutting spending. Since the 1980s the conservative mantra is trickle down economics.
easterniowegin · 51-55, M
@samueltyler2 every time there is talk of cutting spending, democrats complain and attempt the guilt trip for removing "much needed services" to some special demographic.
samueltyler2 · 80-89, M
@easterniowegin and what would you cut, the Republicans always go after the safety net, social security, Medicare, things they claim are entitlements, but are in fact paid for by the workers.
easterniowegin · 51-55, M
@samueltyler2 most can be cut, honestly.
I hate that i have been bilked for 7.5% of my income for the last 35 yrs, and all i have to show for it is $2k/mo...if/when i finally reach 70yo.
I could have done so much more w that money!!

The sheep don't want any of the programs (except military, always military!) to be cut. I say most can go, as they are too politicized to provide us protections anymore.
Do you have suggestions to begin cutting??
samueltyler2 · 80-89, M
@easterniowegin the cost effectiveness of social security has been proven by many years of experience. Many people, perhaps most, will live long enough to make more on their investment into the system, as long as the government stops siphoning off funds from the reserves. Remember, it is a defined benefit retirement plan, so far better for most than defined contribution.
easterniowegin · 51-55, M
@samueltyler2 so, beyond you needlessly defending forced socialism in this country...did you have any suggestions of spending cuts???
samueltyler2 · 80-89, M
@easterniowegin you are the one espousing cutting costs, i challenged you to list some. How about cutting the return of taxes to the poorer states? Mississippi, in great trouble now from water, gets far more return on taxes than NY. How about cutting some of that, making it fairer?
easterniowegin · 51-55, M
@samueltyler2 cut taxes on everyone. Federal taxes should NOT be so substantial. If states want to raise taxes, let them.

Reduce budgets for all departments. . . EPA, Dept of Ed, IRS, FBI, FDA, HUD, etc.
They are too political.
samueltyler2 · 80-89, M
@easterniowegin so you are basically an anarchist. Be honest about it.
easterniowegin · 51-55, M
@samueltyler2 i abhor the total corruption and biased position of most of the govt depts anymore. They serve zero benefit to the general public.

Serving the political needs of one party is fascism...which is worse than anarchy.

Removing the corruption at this point means scrapping and starting over.
samueltyler2 · 80-89, M
@easterniowegin you are speaking a bit crazy. You need to take a look at why the agencies exist and what would happen without them.
easterniowegin · 51-55, M
@samueltyler2 let's see, without the agencies, huh:
-OSHA was politicized to fire private sector employees over an untested vax
-CMS is still politicized to have clinical employees fired, over the same untested shot.
-FDA was politicized to restrict and incorrectly allow for EUA for the untested shot ...and to cover up 40k pages of test data that proves the shot is unsafe.
- CDC outright lied to potus and public about efficacy of masks and the shot.
-IRS has been politicized to work against conservative orgs. Who knows what the additional 87k agents who are to be armed will do to us.
-Homeland security is actually distributing illegals all over the country (w/ zero screening for backgrounds or health concerns...during a pandemic).
-FBI and DOJ are illegally monitoring US citizens...plus a lot more illegal activity.
-FBI has conspired to influence multiple federal elections.
-SEC won't crack down on insider trading by congressional members
-Dept of Ed has been indoctrinating kids for decades, while supervising the dumbing down of kids. Also has petitioned to classify school parents as "domestic terrorists" over differing political views.

Shall we discuss the failed logistics of the Transportation Dept related to food supply chain?

Could go on, but you're going to dismiss all of this, bc for you liberals, the ends justify the means.

With friends like this, who needs enemies??
samueltyler2 · 80-89, M
@easterniowegin you have truly swallowed all of the KoolAde garbage. None of what you state is correct. Go join your anarchist friends.
This comment is hidden. Show Comment
IamPunkin · 46-50, F
@samueltyler2
I'm sorry, i don't do a lot of political posts, but wtf are you saying?
Supreme court literally ruled against OSHA earlier this year. It impacted my employer.
That is only the first point and it was correct.
irishmolly72 · 56-60, F
@samueltyler2
swallowed all of the KoolAde garbage

You're so cute when you mix your metaphores. 🤗
irishmolly72 · 56-60, F
@easterniowegin I agree that there is a lot of politicization and abuse in these departments. That is why our founding fathers envisioned a central government that is absolutely as small as possible. "Small" can hardly be used to describe anything the Federal Government does these days.

The bigger the government, the more puppet strings that are available to make us behave the way we're "supposed to".
samueltyler2 · 80-89, M
@IamPunkin do you have any idea of the "charge" for OSHA? it is to protect the worker! I'd suggest that you look at the history behind the establishment of the agency. You might start with reading some of the Muckrakers writings. Big industry used workers like cannon fodder.
IamPunkin · 46-50, F
@samueltyler2 yeah, the role of most of the departments has been overruled by politics recently. That's the whole point of the post. Forcing employers to mandate an untested shot (i refuse to call it a vaccination!) goes WELL BEYOND the scope of authority for an occupation oriented dept. Exceeds their authority, and the courts ruled that way.
samueltyler2 · 80-89, M
@IamPunkin Well, sorry that you feel it was untested, it actually had more testing than 95% of any new medication approved by the FDA. You are skirting the fact that OSHA has always been working to protect the worker, with the best evidence it had. Yes, the SCOTUS did bend to the will of the large corporations, the wording was very iffy in their decision. Would you also say a company could not require other immunizations, hard helmets, metal tipped shoes?
IamPunkin · 46-50, F
@samueltyler2
A) how can you say the shot had been tested, it was <1 yr old. Every other drug trial involves a Phase 3 which includes 2-5 years.
B) i suppose there are 40k pages of test data, but those were not released to the public, and now that they are beginning to be released, we are finding ZERO reason to keep the shot on the market. Ppl are dying from the shot. Ppl are having permanent side effects. All ofnwhich should have been available to the public. But having "informed consent" was not a consideration.
C) Wearing boots while on the job is not the same as forcing an unproven substance into your system, to be present inside you, outside of work environment. It was new and unproven. And now has been shown tonbe ineffective. You dont mandate treatment, and is exactly what this shot amounts to...a treatment. Even Dr Birks has admitted they lied about it.
samueltyler2 · 80-89, M
@IamPunkin You are wrong with all 3 of your comments. Time to do the testing is not the determining factor, it is subjects tested, and what the technology used is. You have no idea what you are speaking about when you even use the terms phase 3 anyway. Those phases really don't apply properly to immunizations. I am sure you would have been happier to wait for another million people to have died before releasing the proven immunization?
IamPunkin · 46-50, F
@samueltyler2 see this is where your socialist/fascist mentallity comes to bear. You want it, so everyone must participate.
The fact is that informed consent was never in play here, bc the CDC/FDA intentionally withheld outcomes that should have been reported and available for consideration from the public. Ppl were lied to and coerced into the shot.

Phase 3 trials were active...as ppl were being told to get the shot, under the EUA. And the governmenttried yo hide the evidence...for up to 75 years.

"Safe and effective" was the biggest lie ever. And it was intentional.
The 40k pages of evidence back that up. The shot is ineffective. Ppl have been impacted in several negative ways also.

VAIDS, myocarditis, Sudden Adult Death Syndrome, miscarriages, and infertility are all included as adverse outcomes of the untested shot.
Any other vaccine/drug in history would have been unauthorized and removed with such outcomes. The fact that ppl like you still tout the shot with all of the evidence is criminal.
IamPunkin · 46-50, F
@samueltyler2 also, take your pathetic emotional ploy and gaslighting with " I'd be happier with another million ppl dead." Those counts were all intentionally inflated, to scare ppl.

The cure was worse than the disease in this case.
samueltyler2 · 80-89, M
@IamPunkin I really feel sorry for you. Who will you ever trust?