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"I find the fixation on 1970s inflation puzzling for several reasons."

NY Times editorialist tweets his puzzlement. Liberals, having decided that spending doesn't matter and that deficits and debt don't matter at all, have now decided that, of course, inflation won't matter, either. 

For a short course in why it matters, he could consult "Why Inflation Matters: It hurts workers and retirees, disrupts investment, and can be hard to control".