Groucho Marx once defined politics as “the art of looking for trouble. finding it everywhere diagnosing it incorrectly. and than applying the wrong remedies.” The definition sounds zany, but in a way it has ape plication in Washington? handling of certain phases of the economy. Inflation is a case in point. – Economists repeatedly say it’s fueled significantly by red spending and a soaring national debt? Yet overspending condnizes .. and so does inflatitji? “We should’have an annual inflation rate of around 18 percent tabout the same as last yearl by the end of 1980,” said Michael Evans. private Washington economist. after the government revealed that food prices for August had shot up 2.3 percent, largest monthly increase since July, 1975. The upsurge ended a brief standstill in the overall cost of living. Prices resumed their upward trend at a seasonallyadjusted 6.7 percent for the month. an annual.-mw of8.6 Actually though, the foot costs climb can’t be blamed to manatgrers of the economy. Ra’ er, the drought and heat wave in much of the nation’s agricultural belt apparentlv is the culprit. No letup. however. is seen in deficit spending . and the surging debt. The balanced budget Congress and the Carter Administration projected’ for fiscal 1981 is being refigured now, partly as a result of recession adjustments. A deficit of $20 to $50 billion looms. Thus, we’re still in the pattern of the past 20-plus Biars in which the mocrats have controlled Congress. These simple but sad statistics from Office of Management and Budget tables in the Congressional Record tell the story in part: Budget outlays, up from $82.6 billion in 1958 to a projected $578.8 billion for fiscal 1980 which ends Oct. 15. Deficit for fiscal ’80 estimated at $60.9 billion. Budget balanced only twice in the past 22 years – 1960 and 1969. National debt has grown from $280 billion in 1958 to an estimated $907I.billion for 1980. When and how will the pattern end’?