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Politics : Politics for Pros- moderated
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To: Nadine Carroll who wrote (525757)12/8/2012 7:33:22 AM
From: LindyBill3 Recommendations  Read Replies (3) of 793581
 
The real "Cliff" that we are poised to go over is the "inflation cliff." Nobody knows when and if it will hit us. We all sit here and say, "this can't go on," but it does.

As I recall it, Reagan had to wring the inflation out of the system that happened under Carter but was really caused by LBJ's pumping the money supply to pay for Vietnam. He didn't want to raise taxes for it. I think LBJ spent like mad in the mid 60s and we got hit with the inflation from it in the late 70's. So we may have that kind of lag again.
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