Inflating Away the National Debt

In Analysis by Michael Rae

Federal government debt increased by more than $2 trillion in fiscal year 2022, from $28.429 trillion at the beginning of the year to $30.929 trillion at the end. (The fiscal year ends on September 30.) One way to lower the burden of that debt is to inflate it away, and that’s exactly what we’ve been doing over the past year. The national debt is, by some measures, less of a burden on the economy at the end of the fiscal year than it was at the beginning.
In dollar terms, the national debt increased by 8.8% in fiscal year 2022, but those

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