Many years have passed since former President Bill Clinton employed the phrase, "It's the economy, stupid." The economy remains as important a political issue today as it was in the early 1990s, and that phrase remains as politically prescient now as then.

The high inflation occurring under President Joe Biden is horrible, as are its consequences. A slight cost of living increase periodically is an economic norm, but prolonged inflation is not. The strain (or tax, a more appropriate term) on the macro economy by high prices would be difficult to quantify. High inflation persists because of failed economic policies.