The reason for our insane spike in inflation in 2022 is government spending, of course, which ballooned in Biden’s first year. Build Back Better was dead in the water, but other spending packages did pass in Biden’s first year: $1.9 trillion in “COVID relief” in March 2021 (which is on top of the $2.3 trillion signed into law by President Trump when the pandemic hit in early 2020) and another $1 trillion for the bipartisan infrastructure package. Add it all up and the U.S. had injected $5.2 trillion into the system.
