Congress, Deficit Spending, and the Hidden Tax of Inflation
Published: 11/01/2026 Congress regularly engages in deficit spending—a practice that, in plain terms, means the federal government spends more money than it collects in tax revenues. To cover these shortfalls, the U.S. Treasury issues government debt, selling bonds to public investors, corporations, and foreign nations through open auctions. While the Federal Reserve does not fund
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