Cutting down the government’s budget is the best way to deal with out-of-control inflation, according to Maya MacGuineas, president of the Committee for a Responsible Federal Budget (CRFB).
Annual inflation hit 9.1 percent in June, which is a new four-decade high. Calling inflation numbers “eyepopping,” MacGuineas said that taming it should be a “top national priority,” according to a July 13 press release by CRFB.
The Federal Reserve is going to need help bringing down inflation without pushing the economy into a recession, and the best thing lawmakers can do in the short-term is to pass a “deficit reduction reconciliation bill,” she argues….