Is inflation and higher interest rates coming?

http://news.myway.com/top/article/id/38103|top|04-14-2004::09:26|reuters.html

Yup, inflation is back (large deficits tend to do that eventually).
This is happening even if you remove gasoline and food from the
CPI. A 1/2 point prime rate move is expected. If inflation
is not checked quickly, rising interest rates could cause a large
flat tire in the recovery. People who were re-mortgaging like crazy
to pay off credit card debt (and thereby spend more again) and the
housing market will feel the effects first. There is a lot of talk
about the housing "bubble" that we are in right now, and rising
interest rates coupled with low wages and high unemployment (relative
to when the housing market bubble started) may well cause a rapid
deflation of housing prices, which could wipe out the rest of middle
Americas equity nest egg (that which didn't get wiped out in the
stock market).

well why not get every thing from them? Half the middle class is still voting for Bush so guess they are looking forward to a little more rip off.