Renk Discussed Inflation Concerns With Dr. Gary Wolfram Hillsdale College Economics Professor
I spoke with Dr. Gary L. Wolfram, on Wednesday, May 19 2021 to get his thoughts on the effects of the trillions of dollars created out of thin air by the Biden administration to address the concerns of the impact of political leaders shutting our economies down. Most of the money created by the administration is not going to pay for consequences from the Covid lockdown but other Democrat wish list funding. Examples being giving $86 billion dollars to top off private companies' union pensions, building public buildings and even taxpayer-funded abortions.
Dr. Wolfram is the William Simon Professor of Economics and Public Policy, Director of Economics and Professor of Political Economy at Hillsdale College. Dr. Wolfram is also the President of the Hillsdale Policy Group, a consulting firm specializing in taxation and public policy analysis. He is the author of A Capitalist Manifesto: Understanding the Market Economy and Defending Liberty.
During the interview Dr. Wolfram said:
"people don't see the real cost of government when you do it by just government running big deficits they don't see the true cost of it so what happens is...people will end up demanding more government because they don't see what the true price of government is."
This is how they trick us, we believe the cost of government is not as expensive as it truly is because our taxes do not reflect what the true cost of government is. The true cost is our expenses and the deficits that we run every year and they know most people have no idea what our deficits each year are.
Hear more from Dr. Wolfram about his thoughts on inflation and does he believe that it is occurring today: