• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

2

MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing

3

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says

1

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

2

MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing

3

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
PoliticsInflation

Ron DeSantis is convinced Biden’s stimulus caused inflation. His solution: Use Biden’s stimulus to send inflation relief checks to Floridians

By
Christine Mui
Christine Mui
Down Arrow Button Icon
By
Christine Mui
Christine Mui
Down Arrow Button Icon
July 22, 2022, 2:38 PM ET
Florida Governor Ron DeSantis .
Florida Governor Ron DeSantis .Paul Hennessy—SOPA Images/Sipa USA/Reuters

“You cannot print trillions and trillions of dollars and expect there not to be some effect on the back end,” Florida Gov. Ron DeSantis said at a news conference in late March. 

“Even Keynesian economics would say if you spend and print, spend and print, that is going to drive up the cost of everything, and so that’s what we’re seeing,” he added, referring to the legendary economist John Maynard Keynes, who, besides literally writing the book on stimulus spending, said over 100 years ago that “there is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.”

But also, as DeSantis noted, the 40-year-high inflation that Floridians are experiencing in 2022 is really a problem.

Last week, DeSantis announced a new strategy “​​to offset the costs of rising inflation.” Especially on the brink of a new school year, he said, “the State of Florida is giving you $450 for each child in your care,” DeSantis wrote in a letter accompanying the checks. “This one-time payment can be used for anything from buying diapers to fueling up at the pump.”

Where does this money come from? In part, the very same stimulus DeSantis derided for its supposed inflationary impact. The governor will use $35.5 million that Florida received from federal COVID-19 relief funds to mail checks to nearly 59,000 foster and adoptive families in the state, First Lady Casey DeSantis announced last week. 

“The American Rescue Plan Act created a $1 billion fund to assist needy families affected by the pandemic within the TANF program,” Laura Walthall, a spokesperson for the Florida Department of Children and Families, told Fortune. “The one-time payments ensured that $35.5 million would be received by Florida families. Had these awards not been made, the funding would have otherwise reverted back to the federal government.”

When Christina Pushaw, a spokesperson for DeSantis, notified Floridians about the letters on Twitter, some pushed back, asking if the checks would make inflation worse, based on the governor’s prior logic. Pushaw denied that the state’s stimulus payments would contribute to inflation. 

“The federal government causes inflation by deficit spending. Stimulus checks were part of that. By contrast, the budget surplus in Florida is at the state level and it’s already money in existence, we do not print money here,” Pushaw tweeted. “So—no, it doesn’t cause inflation.”

Her defense did not alleviate all concerns, and some people followed up by arguing that the payments could still be inflationary because money in a budget surplus is not in circulation the same way a cash injection directly into residents’ pockets is.

DeSantis’s office did not respond to Fortune’s request for comment.

Checks have already been mailed directly to eligible families, who should receive them within the next seven days, the Florida Department of Children and Families told Fortune.

No application was necessary to receive the checks, as was the case with previous COVID-19 relief payments. Eligible recipients include foster parents, relative and non-relative caregivers, and participants in the Temporary Assistance for Needy Families cash assistance program and the Guardian Assistance Program, according to the department. 

Florida is among several other states, including California and Colorado, that are issuing stimulus or tax rebate checks this summer to lessen the burden of inflation on their residents. At least 10 states have also stepped in to give refundable credits or deductions to families with children after the federal child tax credit expired last year. In March, DeSantis approved another year of $1,000 bonus checks for first responders.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
By Christine Mui
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

trump
PoliticsWhite House
MAGA hates AI, but Trump agrees with Bernie it might be time for partial government ownership
By Nick LichtenbergJune 5, 2026
3 hours ago
jack
PoliticsElections
A Kennedy, Kellyanne Conway’s ex-husband and a former Palantir data scientist debated AI regulation. Welcome to the Manhattan primary
By Anthony Izaguirre and The Associated PressJune 5, 2026
10 hours ago
trump
Arts & EntertainmentWhite House
Trump says Knicks owner James Dolan invited him to Game 3 of the NBA Finals and he’s going
By Collin Binkley and The Associated PressJune 5, 2026
11 hours ago
Putin is running out of money to wage war on Ukraine, and this Russian-occupied territory is running out of fuel as Kyiv smashes supply lines
EnergyRussia
Putin is running out of money to wage war on Ukraine, and this Russian-occupied territory is running out of fuel as Kyiv smashes supply lines
By Jason MaJune 5, 2026
11 hours ago
pulte
North AmericaWhite House
Trump backs down on Bill Pulte after bipartisan Senate revolt
By Josh Boak and The Associated PressJune 5, 2026
12 hours ago
Senate passes $70 billion immigration bill to fund ICE following efforts to stop Trump’s $1.7 billion settlement fund
PoliticsImmigration
Senate passes $70 billion immigration bill to fund ICE following efforts to stop Trump’s $1.7 billion settlement fund
By Mary Clare Jalonick, Joey Cappelletti and The Associated PressJune 5, 2026
13 hours ago

Most Popular

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
AI
AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
By Marco Quiroz-GutierrezJune 5, 2026
20 hours ago
MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing
Success
MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing
By Sydney LakeJune 5, 2026
22 hours ago
Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
Economy
Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
By Nick LichtenbergJune 5, 2026
22 hours ago
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
Cybersecurity
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
By Sasha RogelbergJune 3, 2026
3 days ago
Current price of oil as of June 5, 2026
Personal Finance
Current price of oil as of June 5, 2026
By Joseph HostetlerJune 5, 2026
16 hours ago
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
Economy
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
By Nick LichtenbergJune 4, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.