As Congress pivots to debt, it shouldn’t forget the inflation connection ...Middle East

House Speaker Kevin McCarthy (R-Calif.) is proposing increasing the debt ceiling in exchange for spending reductions totaling $4.5 trillion. Even though it may pass the House, the proposal will not be enacted because most of the reductions would interfere with the president’s spending priorities. Nevertheless, it represents an attempt to get the president and Congress to negotiate about how to reduce budget deficits. This is critical not only in order to pay for future Social Security and Medicare commitments to seniors, but for the long-term control of inflation. The spending side of the story is well-known, but it deserves an update. In the past, foreign and domestic lenders h

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As Congress pivots to debt, it shouldn’t forget the inflation connection ...Middle East

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