Sorry, Joe, more spending means more inflation

Published August 20, 2021 3:00pm ET



There has not been much good economic news lately for working families. Inflation is soaring, consumer confidence is plunging, and Congress is pushing for even more spending and taxes on the economy.

After spending nearly $6 trillion, Congress is now considering a new $3.5 trillion tax and spending plan, in addition to the $1.2 trillion infrastructure bill. Many experts are warning that this new spending will fuel even more inflation and that the proposed tax increases will raise prices even more.

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