5 Horrors of Inflation *Update*
June 10, 2009
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Ronald Reagan and Jack Kemp wanted to index everything, especially Treasury notes and taxes. By “indexing,” we mean tying rates (interest and tax) to the inflation rate. Calls for indexing subsided after Reagan and Volcker did what Ford and Carter could not: whip inflation now.
With a $2 trillion deficit this year and multi-trillion deficits projected as far as the eye can see, inflation will return to ravage the American consumer.