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He also referred to all government spending as taxation.
Is Musks assertion a fair take?
Heres what experts have said about Musks position.
How the Governments Response to COVID Led to Higher Inflation
Melanie Musson is a finance expert withInsuranceProviders.com.
That meant there was a shift in supply and demand.
The government printed money to fund spending.
While theoverall true wealthof the country remained the same, more cash made up the same amount of wealth.
That meant that every dollar became worth less.
When more dollars chase the same amount of goods, those goods become more expensive.
Consumers saw this trend play out in various everyday expenses, such as housing and groceries.
Still, negative inflation (deflation) remained the primary issue throughout that whole decade.
What Else Drives Inflation?
The federal governments policies can change the money supply and the movement of people.
While the government wields a lot of power in determining inflation rates, they arent the only factor.
Going forward, some new measureslike tariffscould have a potentially challenging impact on inflation, Bjegovic stated.
Government spending was the primary factor driving inflation over the past few years.
There are other factors involved.
Can DOGE Bring Inflation Under Control?
Both experts have expressed caution, mentioning unintended consequences and the roadblocks DOGE can face in Congress.
Adding another department, even one focused on efficiency, will likely increase government spending.
If the department truly had the authority to keep other departments from spending, it could lower inflation.
Its not likely, though, Musson stated.
They would need Congresss approval.
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