Peter Schiff: Government Spending Has Bankrupted the U.S.

Posted by freedomforall 8 months, 1 week ago to Economics
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Excerpt:
"All of that government spending is being financed by deficits and that’s really the source of the inflation. And it has been the source of the inflation for many, many years because the Fed has been monetizing all the government debt by creating money. That’s what’s been putting all the upward pressure on prices. So, it’s the government that’s responsible for the inflation. As long as the Biden administration keeps spending money that it doesn’t have, inflation is going to get worse.”


All Comments

  • Posted by $ sjatkins 8 months, 1 week ago
    More important it and taxation and inflation has bankrupted the people themselves and massively destroy self-reliance.
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  • Posted by mhubb 8 months, 1 week ago
    yup
    happened years ago

    debt plus unfunded pension liabilities, well over 200 trillion
    Reply | Permalink  

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