Young People's Socialist League / Socialist Party of Massachusetts. THE WAR AND INFLATION
Cambridge: YPSL, 1970. Single standard letter sized flyer, mimeographed text both sides. Mild edge wear with date penned at upper right corner; old fold marks; minor sunning to bottom edge. A socialist flyer linking the Vietnam War to Inflation. Deficit spending = ballooning money supply = inflation. Wait, isn’t that the conservative’s argument? From the flyer: “The current inflation rate of 6% a year is a direct result of the way the Vietnam War was conceived and financed… The deficit of 38 billion dollars accumulated during these 3 years is the major reason for our current high rate of inflation. The government financed this deficit as it basically finances most deficits: by increasing the money supply.” The solution? Import more oil! “The government… must permit the import of foreign oil which would save the American people $5 billion a year. Progressive government action… can bring a halt to inflation…” The enemy of my enemy is my friend. Or something like that. A curious flyer demonstrating that at times conservatives and liberals are closely aligned in their rhetoric on inflation.
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