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Inflation Doesn't Pay Anymore

Sheldon Richman

Jeffrey Rogers Hummel and I have an opinion piece today at Forbes.com titled “Inflation Doesn’t Pay The Government Like It Used To.”

Key quote:

[T]he bottom line is that inflation’s effect on the national debt will no more be able to resolve the escalating U.S. budgetary problems than would an excise tax on chewing gum.

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