Yahoo Finance Grant Cardone Says 'Out Of Control' Government Spending Is To Blame For Inflation
Real estate titan Grant Cardone has never been shy about sharing his opinion on anything related to real estate or the economy, and he recently provided insight into the core cause of inflation.
Here’s his post on X from earlier today, June 21:
Out of control govt spending is the core cause of inflation.
The U.S. government collects $4.4trillion a year and spends $6+ trillion.
As long as we the people give our representatives the support to approve deficit spending they will continue to waste.
Individual income...— Grant Cardone (@GrantCardone) June 21, 2024
@GrantCardone on X
Cardone says that out of control government spending is the core cause of inflation. He goes on to provide a statistic that shows the government collects $4.4 trillion a year but spends $6 trillion, creating a large imbalance.
The U.S. debt currently stands at more than $34.8 trillion and a recent report by the Congressional Budget Office (CBO) projects that it will surpass $50 trillion by the end of 2034.
“As long as we the people give our representatives the support to approve deficit spending they will continue to waste,” Cardone said.
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