The $2 Trillion “Rescue” Plan: Soon after taking office, President Joe Biden engineered, in my opinion, a $2 trillion borrow-and-spend extravaganza on the claim that the economy was in desperate need of help.
But by the time he signed his “American Rescue Plan” into law, the recession had been over for a full year, and the economy had regained almost all of its COVID-lockdown losses. Even some liberal economists warned that spending a mountain of cash in the middle of a booming economy would spark an inflationary spiral.
Lo and behold, that’s exactly what happened. In November inflation hit 6.8%, the highest in nearly 40 years.
Submitted by Virtual Newsroom