What's happening is a much simpler, more drastic concern: does the US respect its international commitments?
What's happening is a much simpler, more drastic concern: does the US respect its international commitments?
Not just the US: a lot of countries implemented stimulus packages to get their economy going post-COVID.
The inflation of these programs was unexpected/predicted:
* https://www.piie.com/blogs/realtime-economic-issues-watch/in...
I think it's also worth noting that a lot of people have 'forgotten' other factors happening besides stimulus and monetary (central bank) policy—especially when it comes to energy and food prices:
* https://en.wikipedia.org/wiki/2022_Russian_invasion_of_Ukrai...
Since then, it flip-flopped on the Paris Agreement, single-handedly put tariffs on goods imported from literally every single country in the world, withdrew from WHO and so on and so on.
Not only does the US not respect the commitments it already agreed to, it hasn't done so for the past 10 or years.
These commitments were commitments by the administration in the White House at that time. They were not accords or treaties ratified by Congress. Agree with them or don't, they should have been understood as what they were: limited in legitimacy and free to be canceled by the next administration with no discussion.
This isn't a matter of arcane political skullduggery, it's spelled out in the US Constitution's definition of treaty, Article II, Section 2, Clause 2. The people were not formally heard.