Serving the High Plains

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  • 'Build Back Better' will disrupt economy, cause more inflation

    Heritage Foundation, Syndicated content|Jan 12, 2022

    During the late 1970s, American families experienced stagflation — a combination of economic stagnation and significantly higher inflation. By the summer of 1980, unemployment hit 7.8 percent and the economy was actually shrinking. On the year, inflation spiked 12.3 percent. Some fear that today’s slowing economic growth (2.3 percent annualized last quarter) and the steepest price hikes in 40 years portend a return to stagflation. Real weekly earnings have plummeted more than 6 percent since the middle of last year, and the cost of living ecl...