True to the Democrat Party’s ways, President Biden is racking up spending like it means absolutely nothing. Within 100 days as president, Biden’s proposed packages ultimately amount to $6 trillion dollars within a six month period. The only reprieve right now is that not all of Biden’s policies have passed through Congress.
As the economy bounces back, there is less of a need for excessive spending and government intervention. This is common sense; however, Democrats know that these massive spending bills pave the way for the government to control Americans’ lives. This is why they’re not eager to ease up on the spending, even as the economy recovers.
Now, Washington Examiner is reporting that economists are firmly against the consequences of President Biden’s liberal, wasteful spending.
What Economists Think About Biden’s Spending
February and March 2021 job reports have surged well beyond what economists expected. Meanwhile, the unemployment claims are fluctuating; as the economy reopens and is freed from lockdowns, among other restrictions, jobs and additional parts of the labor market are making a comeback.
Economists maintain that in light of the current economic state, the massive spending proposals from the Biden administration will go awry due to inflation. In 2021, inflation rates are expected to surpass the 2% milestone; however, by next year, inflation is projected to fall once more.
— Jeanine Pirro (@JudgeJeanine) May 2, 2021
Despite the economic harm engendered by shutdowns and other government mandates, too much spending will only heighten inflation, thus leading to price increases. Economists, therefore, maintain that it’s in everyone’s best interest if Biden tones down the heavy spending and makes sure that proposals are appropriate for the current state of the economy.
Will the Biden Administration Listen to Economists?
Sadly, the current White House has made no indication that advice from economists is guiding any of their decisions. As Biden expressed during his congressional speech last week, government control is what this administration stands for.
JUST IN: Biden's proposed American Families Plan which will run $1.8 trillion and will be in addition to his $2.3 trillion infrastructure proposal (less than 6% deals with actual infrastructure as we know it – roads, bridges, and schools)
…we can't sustain this spending, y'all
— Wayne Dupree Media, LLC (@WayneDupreeShow) April 28, 2021
The American Jobs Plan, American Families Plan, etc., all increase the power of government while weakening the American citizen. This is the precise opposite of what America’s Founding Fathers intended; it’s also the precise opposite of what the economy needs at this time.
What do you make of economists’ warnings about the heavy spending coming from the Biden administration? Do you think Biden is on a warpath to bankrupt this nation? Give us your thoughts down below in the comments section.