SALT LAKE CITY — The US economy may be feeling the pinch of inflation — most nations are — but unemployment rates in the country are the lowest in 50 years, and Americans are feeling good about the job market now, says a visiting economics professor at the University of Utah.
Inflation, the economy and politics
The United States has been on a spending spree lately, Rep. Chris Stewart, R-Utah, pointed out.
“We have spent more than $11 trillion in 18 months,” he said.
KSL NewsRadio’s Dave Noriega pointed out that the nation has been mired in a pandemic, hence the massive spending. But not all that money was spent to defeat COVID-19, he noted.
The $1.2 trillion bipartisan Infrastructure Investment and Jobs Act was signed into law last month. Plus, the Build Back Better bill being debated now would add $1.75 trillion, if it passes Congress.
Does printing money impact inflation?
Dean Baker, who is a…