Op-Ed: The Federal Government Thinks It’s Spending Monopoly Money

This article originally appeared in Daily Caller on April 6, 2023

As Mark Twain once observed, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”

Understanding that simple point fully explains why the U.S. now finds itself buffeted by high inflation, massive federal budget deficits, a simmering banking crisis and an economy on the verge of recession.

Little more than two years ago, at the onset of the Biden administration, inflation was a tame 1.4% and the economy was growing briskly. (After contracting sharply in Q2 2020, the economy rebounded at annual rates of 35.3%, 3.9%, and 6.3% in the subsequent three quarters.) Moreover, the unemployment rate had fallen to 6.3% after reaching 14.7% at the height of the COVID-19 lockdowns less than a year earlier...

Read full op-ed in Daily Caller