To hear President Joe Biden tell it, "tackling inflation" is his "top economic priority." In an op-ed for The Wall Street Journal yesterday, Biden outlined a three-point plan to " transition from rapid recovery to stable, steady growth" by "[bringing] inflation down."
Yet as Reason's Eric Boehm noted, Biden's own policies, particularly the $2 trillion partisan spending bill Biden and congressional Democrats pushed through at the start of Biden's presidency, contributed to the current inflationary environment, pumping massive stimulus into the economy in an explicit bid to run the economy "hot"—despite clear warnings, even from left-leaning economists aligned with the Democratic Party, that doing so would produce harmful levels of inflation.
