Why Inflation Panics Are Poison for Progressive Politics

Before you dismiss these events from 50 years ago as irrelevant, consider how much Nixon s short-sighted approach sounds like something President Donald Trump might have done if inflation had became a political problem during his tenure (or in, God help us, a future term). Indeed, any president mulling Nixon s choice of recession-inducing fiscal or monetary policies might be tempted to resort to the easy-to-understand if dangerous strategy of wage and price controls in which the pain is mostly back-loaded, particularly in or near an election year. Us old folks remember how it preceded Nixon s landslide 1972 win, followed by a decade of economic pain and multiple decades of political misery for progressives.

via nymag.com

So let me get this straight. Trump might have spent even more money than Biden proposes, and this would lead to even more inflation than we’re apparently in for, so that’s another reason we’re well rid of Trump. Got it.