Reply to Why is Biden extending the student loan repayment pause?

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[quote=Anonymous][quote=Anonymous]Pay what you owe.  Unemployment is near where it was pre-pandemic. There are literally no more excuses for these freebies.  Do you know why there's inflation? Because there is too much money everywhere.  Making people pay what they owe is one way to reduce too much consumption that's driving so much inflation.  That may be an unpopular view, but it's true.  US household wealth and savings has exploded during the pandemic due to multiple stimuli and huge amounts of money printing.  Time to take money out of the system and make people pay their bills.[/quote]
You are barking under the wrong tree.  It’s the fault of the Fed, as in Federal Reserve and not Federal Government.  It unloaded shit load of digital dollars indiscriminately for too long and Sat fat and happy as inflation was going up.  It is the responsibility of Federal Reserve To control inflation and unemployment within certain limits and take timely and prudent actions if either of them goes out of limits.  Federal Reserve is late in starting to tighten money supply.  So it will have to hurry up and take multiple stronger actions (increase interest rates in larger increments and more frequently and for longer time) to try to tame the increasing inflation, but instead, it may plunge the US economy into a recession.[/quote]

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