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| Idk if it was to match the 10 yr specifically but it was like they aren’t matching and going to peg it to some tbill. I would think pegging it to that in hopes the fed cuts rates over the next ten years would mean they have to contribute even less? And it’s justified by saying it’s pegged with inflation
I heard this from someone who works at IBM and a govt employee here in ms. Similar stories around the same time. I doubt it’s coincidental
If they balance the budget with the taxes then yea it shoullddd help but history shows that as taxes increase, inflation increases. Simple as.
And I’ll try to find the paper later. I’m driving right now. But the gist of it wasn’t what caused it but what they could do about it, or what they tried to do about it. And they didn’t raise interest rates right away and instead thought they could just raise taxes and that made things worse. That’s why they ended up with such a strong reaction with raising interest rates later. I never said it was the sole cause of inflation. I mean up until the past month ish I haven’t seen a single mention of raising taxes because they know it’d be the nail in the coffin in my opinion. As soon as things start to ease off tho with cpi and pce numbers cooling. A “good jobs” report and stock market at all time highs they go ok maybe now we can slap em with the bill. In my opinion they are riding the middle class hard and putting them up wet
Edited by Deltamudd 2/5/2024 13:37
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Jpow on 60 minutes
