Imagine that you serve on the Council of Economic Advisors that advises our U$.$S$.$ President on economic policy matters, and economic conditions call for a fiscal policy to combat high inflation.

Would you advise the President to devise a fiscal policy based on increasing$/$decreasing taxes, increasing$/$decreasing public transfer payments, or increasing$/$decreasing government spending?

What is your rationale for this choice, and how would it work $($i$.$e$.$ explain whether it is an increase or decrease to whichever of the above you choose$).$

Give some details about your plan. For example, if your plan includes a change in government spending, how would the change be targeted $($e$.$g$.$ infrastructure spending? military spending? educational spending? social services spending? law enforcement spending?$).$ Similarly, if your plan includes a change in taxes, which tax payers would be targeted?