Daniel Sánchez-Piñol, Ph.D., is an Economist at the Texas Public Policy Foundation (TPPF). Before joining TPPF, Daniel was a Research Assistant for the Free Market Institute at Texas Tech University. He has taught economic courses at Texas Tech University, Universidad Francisco Marroquin in Guatemala, and Universidad Vicente Rocafuerte in Ecuador.
While a stagnating economy with high inflation is what economists usually call stagflation, the current situation is worse, as the real economy is declining. So there’s much less to go around for everyone—making us poorer in the process. This inflation-recession could be resolved by Washington reversing course, but President Joe Biden and Democrats in Congress...
Americans are sacrificing their savings to keep up with soaring inflation. This burden has contributed to consumer sentiment reaching its lowest level in June since the University of Michigan started the survey in January 1978. And the progressive policies in D.C. could soon make this bad situation worse. The personal saving rate, which is the...