Inflation

The inflation that many have been predicting for years has finally arrived. The pent up buying that was loosed after the pandemic eased was accelerated by the stimulus spending. In the first stimulus a family of four received $1,200 per adult plus $500 per child for a total of $3,400. The second stimulus was $600 per adult and $600 per child for a total of $2,400. The third as $1,400 per adult for a total of $2,800. This put an extra $8,600 into the pockets of these families and they are spending it. Supplies are running low causing prices to rise. The jam in the supply chain is further aggravating the situation. The government has just approved a $1.2 trillion dollar infrastructure bill with another $4.9 trillion for the build back better bill. The bill is said to cost only $2.4 trillion but this is with sunset clauses that limit the time of the bill to less than ten years. Most feel these benefit programs will not be sunsetted.