Inflation should not have been a surprise and if the media was paying attention to the Democrats spending spree they could have predicted it.
From 2019 to 2024 the federal budget increased from $4.4T to $6.8T. That is a ridiculous, and irresponsible, increase of 55% . In the meantime, revenues increase by 40% or $1T. That kind of government spending is going to cause inflation. In 2024, the budget deficit increased to $1.9T! That is absurd.
Trump needs to get this under control if he can. The problem is Medicare and Medicaid costs increase by $430 billion. Interest on the debt increased by almost $600 billion, to just under $1T per year.
This doesn't even include Social Security which will be under water in a few years.
Based on the revenue increases this is clearly not a revenue or taxation issue. It is a spending issue, and if you look at the budgets over the years it has always been a spending issue. This is why calling for more taxes on the rich is just politics. Taxing the rich more will not put a dent in the deficit. We have to stop spending. Having worked in the private sector for over 35 years I know we could cut 20% out of the federal budget without any Americans feeling the difference. Trump needs to get it done.