Kevin Hassett lists the ten steps of stagflation:

Last week, markets collapsed, and the media seemed dumbstruck when inflation “surprised” on the upside. There should have been no reason for surprise, however. We are in a straightforward stagflationary spiral. Everything that is happening makes sense and is following a predictable historical pattern. But for those who have doubts, let’s dig deeper into the simple economics of the world we are living in.

Chris Edwards of the Cato Institute writes about the policy successes at the state level in the past few years:

But there is good news on fiscal policy. A wildfire of state income-tax cuts is sweeping the nation. Republicans are leading the reforms, but even Democratic states are offering some taxpayer relief.
The dollar value of recent state tax cuts is the largest in at least four decades, made possible by overflowing coffers in most states. Even with the cuts, state tax revenues rose 10 percent in 2021 and will likely rise another 10 percent in 2022.
The states could have spent all the extra money, but Republicans have pressed for pro-growth tax cuts in state after state. More than 20 states have cut individual or corporate income tax rates, with some of the reforms being phased in over time.