Consumer prices, down

The chart says whether prices drop or rose from month to month. This is all consumer prices, not the trimmed. 

And during the previous cycle we got negative changes about a third of the time.  disinflation with increasing tendency of deflation.

This bodes ill for government tax collection, especially sales tax.  It bodes ill for federal income tax collection, and predicts a siegniorage tax of about 150 billion a year fr ten years.

Would we be surprised if Congress agreed to skip siegniorage for ten years and just had the Fed default on 1.5 trillion over the same period?

The Antificants will want a third of our debt defaulted away. Otherwise the Antificants are being billed some 4-5% of their income just for federal interest costs. That comes to something like a half trillion defaulted per year, five times the expected siegniorage tax. I agree, I think we can do it and keep inflation under 5%, but we need smart small state governors who know what we do.