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I have had the rare privilege of providing expert testimony at hearings in the U.S. House and Senate. Over a year ago, I warned representatives on the House Committee on Oversight and Reform about the inflationary effects of reckless government spending and the proposed Green New Deal. A few of the Democrats attending the hearing listened attentively, but others outright dismissed my warnings as partisan theater (Rep. Ocasio-Cortez, D-NY, remarked in response to my warning “[A]nother day, another line about Green New Deal hysteria”)
I of course was not alone in issuing these warnings because the likely outcome of the spending and energy policies enacted and proposed by the current Congress and President Joe Biden were obvious. Larry Summers, treasury secretary under President Bill Clinton, and someone President Barack Obama considered as a possible Federal Reserve chair, warned that Biden’s $2 Trillion spending plan would have dire consequences.
I am a man of modest intellect who has been blessed with an outstanding education. As a part of that education, I learned the law of supply and demand. If the demand for a good is higher than the supply of that good the price will rise. Democrats