If you think this inflation is due to the $1.9 trillion or $2 trillion spending then you know about as much about the economy as an ant.
I really feel sorry for you Alan, you are Republican, not a person, and as such any criticism of anything Republican is personal to you. It is truely tragic to witness and to think that some 30-40% of Americans are like this. Victory for the Republican ruling class to have extinguished critical thinking from you.
And if you don't realize that artificially raising demand by pumping the economy full of money while decreasing supply through higher taxes and regulations can cause run away inflation, then you too dont know any more about economics then a ant.
By hey, dont take my word for it, take the word of that far right wing radical economist Larry Summers, you know, one of Obama's wing men.
Summers Sees ‘Least Responsible’ Fiscal Policy in 40 YearsHmmm, 40 years ago was ... the 1970s, more or less, with run away inflation. Now he did take a swipe at Republicans even though not one voted for the last bill; I guess partisans will always be partisans. However the prognosis is not looking good. I tend to ignore inflation concerns since they always seem to be cry from the right, but when smart left leaning people start warning of this, it is not something to ignore.
We have a couple generations of Americans who have never experienced real inflation (including me) who are being fed this garbage that we can ignore all the rules of economics without any consequences, and a lot of people are believing it.
I tend to believe the bill will be due soon, and, unfortunately, as is the case with most major recessions in the past, everything will be fine until, one day, it just suddenly isn't. And by then we will have blown out our debt to levels where no one will want to buy our bonds, the already low interest rates will not be able to be lowered enough to have any effect, and austerity returns.