Kerby Anderson

Ask a politician or government official a serious question, and you are likely to get deflection that includes changing the subject. Sometimes you get what commentators describe as a “word salad.” That’s what NBC News anchor Lester Holt received from President Biden when he asked about inflation. The conversation wandered off to something about computer chips and supply chains.

The latest polls show that Americans believe inflation to be the most urgent issue. But you wouldn’t think the administration feels the need to talk about it. The other day, the president went to the Midwest to talk about how the infrastructure bill passed last year will create jobs. Most Americans are more concerned with how to pay for gas and groceries than whether the latest big-spending plan is going to create more jobs.

Unfortunately, inflation caught many people off guard. A year ago in February, the presidents of the Atlanta branch and the Boston branch of the Federal Reserve announced that they would be surprised to see a spike in inflation.

Fortunately, some economists were concerned. Former Treasury Secretary Larry Summers warned a year ago that the American Rescue Plan would “set off inflationary pressures of a kind we have not seen in a generation.” Of course, he was mocked for saying that and the legislation passed.

Steven Rattner, former Obama “car czar,” explains that “supply chains have not been cut off, just stretched. And supply issues are by no means the root cause of inflation. Blaming inflation on supply chains is like complaining about your sweater keeping you too warm after you’ve added several logs to the fireplace.”

Yes, there is some common sense being expressed, but notice it is coming from “former” government officials. Unfortunately, those in power apparently want to ignore or deflect any serious discussion and action on inflation.