The timing could hardly have been better. Just as Democrats roll out their massive, partisan $3.5 trillion spending package, a mammoth bill that comes on top of all normal spending and seemingly countless trillions in COVID relief money under Presidents Donald Trump and Joe Biden, a new economic report shows inflation spiking to alarming levels.
According to the Labor Department, consumer prices jumped 5.4% year over year after their largest monthly gain in 13 years.
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