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'''Stagflation''' is a combination of the words "[[stagnation]]" and "[[inflation]]." It is a term used by economists to describe a situation where high inflation and low [[economic growth]] combine to produce high [[unemployment]] with a rising cost of living. Job creation is not keeping pace with population growth and the number of people of working age entering the labor force, yet the government continues dumping more money into the system to pay for social programs and stimulus spending.<ref>Technically, the Federal Reserve is privately owned and controls the money supply. The U.S. Treasury, at the direction of Congress, issues bonds and other debt notes which the Federal Reserve buys with Federal Reserve Notes. The Fed, by buying or selling Tressury notes, regulates the amount of currency in circulation. By voting for massive [[deficit]]s, i.e. future promises to pay with Treasury notes, Congress can flood the econony with cash now to spend and consume, a so-called "stimulus." The net result is no savings and no new job creation. </ref>

'''Stagflation''' is a combination of the words "[[stagnation]]" and "[[inflation]]." It is a term used by economists to describe a situation where high inflation and low [[economic growth]] combine to produce high [[unemployment]] with a rising cost of living. Job creation is not keeping pace with population growth and the number of people of working age entering the labor force, yet the government continues dumping more money into the system to pay for social programs and stimulus spending.<ref>Technically, the Federal Reserve is privately owned and controls the money supply. The U.S. Treasury, at the direction of Congress, issues bonds and other debt notes which the Federal Reserve buys with Federal Reserve Notes. The Fed, by buying or selling Tressury notes (when the Federal Reserve sells Treasury notes to banks it buys back its own Federal Reserve Notes and drains excess currency out of the system), regulates the amount of currency in circulation. By voting for massive [[deficit]]s, i.e. future promises to pay with Treasury notes, Congress can flood the econony with cash now to spend and consume, a so-called "stimulus." The net result is no savings and no new job creation. </ref>

[[Socialist]] [[entitlement]] spending mandates that the [[Federal Reserve Board]] keep printing more money at a time of falling productivity and employment. Although fewer goods are produced, more money is dumped into circulation driving up prices, and no jobs are available to meet the rising cost of living. It is a socialist [[utopia]], where [[equality]] between rich and poor is achieved.

[[Socialist]] [[entitlement]] spending mandates that the [[Federal Reserve Board]] keep printing more money at a time of falling productivity and employment. Although fewer goods are produced, more money is dumped into circulation driving up prices, and no jobs are available to meet the rising cost of living. It is a socialist [[utopia]], where [[equality]] between rich and poor is achieved.