Inflation is usually discussed as a policy problem, but families experience it as a daily burden that changes how they save, spend, plan, and build their lives. It shows up at the grocery store, in rent and mortgage payments, in childcare costs, in interest rates, and in the growing feeling that even when people work hard, they are still falling behind. But inflation does more than raise prices. It changes behavior.

That is why I enjoyed this conversation with Dr. Jeffrey L. Degner, Research Fellow in Economics and Economic Freedom at the American Institute for Economic Research. Jeff is the author of Inflation and the Family, which challenges the common view that inflation is just a macroeconomic variable. His work shows how inflation reshapes household decision-making, weakens institutions, shortens time horizons, and erodes the foundations families need to plan and thrive. Before joining AIER, Jeff spent years in education, from high school to higher education, and most recently served as Dean of the School of Business at Cornerstone University. 

His research brings together economics, history, and moral philosophy to explain why sound money matters beyond markets. It matters for families.

🎧 Listen to the full episode on Apple Podcasts, Spotify, or YouTube.
🌐 Learn more about my work at vanceginn.com
📩 Subscribe for weekly analysis at vanceginn.substack.com

Affordability remains the top concern for American families.

This episode explains why. From inflation and housing to tariffs, sound money, and artificial intelligence, we explore how policy shapes prices, opportunity, and economic growth.

The best affordability policy isn't another government program. It's creating an economy where people are free to build, invest, innovate, and compete.

Get show notes at vanceginn.substack.com. 

​Every policy has a price tag, whether it appears through higher prices, slower job growth, fewer homes, mounting debt, corporate welfare, or government fraud.

In Episode 173 of This Week’s Economy, Dr. Vance Ginn examines the latest labor-market data, declining purchasing power, federal housing policy, Washington’s overspending, Texas’s economic model, tariffs and business incentives, and fraud within government healthcare programs.

The episode explains why prosperity depends on spending restraint, sound money, free trade, broad-based tax relief, competition, and fewer government barriers to work, investment, and innovation.

Watch or listen to The Rising Price Tag on Bad Policy and find more analysis at vanceginn.substack.com and vanceginn.com.

Americans are right to be frustrated by the rising cost of housing, healthcare, childcare, energy, and everyday necessities.

Ryan Bourne of the Cato Institute joins the Let People Prosper Show to explain how zoning, regulation, subsidies, mandates, and price controls often restrict supply and make life more expensive.

We discuss a better path based on competition, production, consumer choice, and economic freedom.

Subscribe and read the show notes at vanceginn.substack.com.

​In Episode 168 of This Week’s Economy, “Want Lower Prices? Start with Better Policy,” we examine why affordability remains such a major challenge for American families.

This episode covers the latest jobs report, the difference between government hiring and real private-sector growth, the risks of Washington taking a larger role in private businesses, why credit-card rates reflect deeper inflation and monetary problems, and why antitrust policy should remain focused on consumer welfare.

The common thread is simple: lower prices do not come from political speeches, subsidies, mandates, or lawsuits. They come from better policy, more supply, more competition, more entrepreneurship, and more innovation.

Watch or listen to the full episode and find more resources at https://vanceginn.com. Get show notes at vanceginn.substack.com. 

Originally published on Substack.

​Inflation is heating up again, and Washington is already searching for someone else to blame. Where should the blame be directed, and how can we solve it?

The latest inflation data show prices continuing to rise too fast, with energy costs getting much of the attention amid conflict in the Middle East. But policymakers should not confuse the spark with the fuel.

The fuel is a Federal Reserve that never truly returned to normal after the 2008 financial crisis, combined with a federal government that continues to spend beyond what taxpayers can sustainably support.

The four charts below tell the story.

Key Points for Policymakers

Problem: The Federal Reserve’s balance sheet and federal debt have exploded since 2007 while prices measured by the Consumer Price Index⁠, Producer Price Index⁠, and PCE Price Index⁠ have steadily climbed. Inflation is not primarily the result of corporate greed, foreign conflicts, or isolated supply shocks. It is the predictable result of excessive monetary expansion enabling chronic fiscal irresponsibility.

Tradeoff: Every dollar spent by Washington must first be taken from taxpayers today or borrowed from taxpayers tomorrow. Government spending does not create new wealth. It reallocates resources from productive uses in the private sector, often reducing investment, innovation, and economic growth.

Solution: Reduce federal spending, cap budget growth below population growth plus inflation, reduce deficits, normalize the Federal Reserve’s balance sheet, and allow markets—not politicians and central bankers—to allocate capital.

The Post-2020 Surge Was Historic

Charts: Cumulative Changes Since 2020

The first two charts compare cumulative changes since 2020 in the Federal Reserve’s balance sheet⁠, federal debt⁠, and major price indexes.

The pattern is difficult to ignore.
​
During the pandemic response, Congress approved trillions of dollars in deficit spending while the Federal Reserve dramatically expanded its balance sheet through asset purchases and emergency lending programs. Fed assets surged from roughly $4 trillion before the pandemic to nearly $9 trillion by 2022. Meanwhile, federal debt climbed above $36 trillion.

Prices followed.

Although inflation has cooled from its peak, cumulative price increases remain substantial. Families continue paying more for groceries, housing, transportation, energy, and other necessities because the overall price level moved higher and never came back down.

Higher interest rates helped slow inflation, but they never solved the underlying problem. The Fed only partially reduced its balance sheet, and Washington never stopped borrowing.

The Real Story Started Before COVID

Charts: Cumulative Change Since 2007

The second set of charts places recent events in a broader context.

Before the 2008 financial crisis, the Federal Reserve’s balance sheet was less than $1 trillion and represented roughly 6% of GDP. Today it remains near $6.7 trillion despite years of so-called quantitative tightening. Federal debt has increased even more dramatically.

Repeated rounds of quantitative easing changed expectations throughout the economy. Markets increasingly assume the Fed will intervene during periods of stress. Congress increasingly assumes borrowing can continue without consequence.

Both assumptions weaken fiscal discipline and encourage larger government.

As Milton Friedman famously argued, inflation is “always and everywhere a monetary phenomenon.” Monetary policy does not operate in isolation, however. Persistent deficit spending creates pressure for monetary accommodation, making inflation more likely and more damaging.

This matters because affordability has become the defining economic challenge for many Americans. Housing, food, health care, and energy costs consume a growing share of household budgets. Policymakers who focus only on temporary price pressures miss the deeper structural problem.

A Better Path Forward

Washington cannot subsidize, regulate, or borrow its way to affordability.

The better path is straightforward: spend less, simplify the tax code, and restore sound money.

The Federal Reserve should continue shrinking its balance sheet toward pre-crisis norms. Congress should cut spending and adopt a sustainable spending limit that grows more slowly than population growth plus inflation, similar to reforms highlighted in the Sustainable Budget Project⁠.

Inflation was never really gone because the policies that created it never truly ended.
​
If policymakers want lasting affordability, they must address the source of the problem—not merely its symptoms.

Why does the economy still feel so expensive?

Because policymakers keep treating symptoms instead of fixing causes.

In Episode 163 of This Week’s Economy, I break down:
➡️ why inflation still hurts families
➡️ why small businesses are struggling
➡️ why debt bigger than GDP matters
➡️ why Americans keep moving to lower-tax states
➡️ why healthcare and energy need MORE competition—not more bureaucracy

The economy isn’t just numbers on a screen. It’s incentives, freedom, affordability, and opportunity.

And right now, too many policies are making all four worse.

🎥 Watch Episode 163 on my YouTube channel
📖 Get show notes at vanceginn.substack.com

​Affordability has become the central economic challenge for American families. Rising costs in housing, healthcare, childcare, and everyday essentials continue to outpace income gains—leaving many asking which policies will actually make a difference.

In Episode 190 of the Let People Prosper Show, I sit down with Michael R. Strain, Director of Economic Policy Studies at the American Enterprise Institute, to discuss inflation, tariffs, and the future of conservative economic policy.

This conversation cuts through political narratives to focus on evidence—highlighting what’s driving the affordability crisis and what reforms could genuinely improve opportunity and prosperity.

Get full show notes at my Substack newsletter here.  

What’s on Americans’ minds? The latest primary election results offered a window into what voters are thinking about. In my home state of Texas, voters sent a clear signal by backing efforts to eliminate property taxes through spending reductions.

Across the country, Americans are asking for the same things: lower taxes, a more affordable future, and a strong economy that creates opportunities. But too often, policymakers try to tax their way out of spending problems or regulate innovation — choices that threaten the very prosperity people are asking for.

That’s why in This Week’s Economy, I’m breaking down how these issues are playing out in policy debates. From tariffs and taxes to government spending and regulation, these decisions directly shape whether American families can afford the future they’re working toward — and policymakers can’t afford to ignore them.

Let’s dive in! Catch the full episode on YouTube, Apple Podcast, or Spotify, and visit vanceginn.substack.com for show notes, and don't forget to subscribe.

​Today’s episode is our first of 2026, focused squarely on the latest economic headlines—and what they mean for your wallet, your work, and the direction of the country.

Washington has been busy. From another federal budget fight and renewed debates over health care subsidies, to fresh inflation data and major corporate developments, policymakers are already setting the tone for the year ahead. The choices being made now will shape whether families see real relief—or continued pressure—from higher costs and slower growth.

In this episode, we’ll look beyond the headlines to examine what’s really driving these developments, where policy is helping—or hurting—affordability, and what leaders should prioritize if they’re serious about restoring growth and prosperity in 2026. Tune in to the full episode on YouTube, Apple Podcast, or Spotify, and visit my website for more information.