Victor Davis Hanson // American Greatness
Human nature stays the same across time and space. That is why there used to be predictable political, economic, and social behavior that all countries understood.
The supply of money governs inflation. Print it without either greater productivity or more goods and services, and the currency cheapens. Yet America apparently rejects that primordial truism.
The United States has borrowed about $29 trillion in debt—about 130 percent of its annual gross domestic product. The government will run up a $2.3 trillion annual budget deficit in 2021—after a $3.1 trillion deficit the year before.