Democrats Aim to Spend $60B More Taxpayer Dollars During 40-Year-High Inflation
Democrats on Tuesday are aiming to spend $60 billion more taxpayer dollars during 40-year-high inflation.
The Democrats’ plan to spend a massive amount of money after spending wildly in 2021. Last year’s spending included a $1.9 trillion coronavirus package and a $1 trillion infrastructure package, which many economists say fueled 40-year-high inflation in the same year.
“A few center-left economists, as well as Sen. Joe Manchin (D–W.Va.), sounded the alarm that an oversized new injection of spending would overheat a growing economy and cause inflation,” Reason reported. “They were ignored, if not mocked. As a result, almost everyone from the Fed chairman to monetary experts spent most of 2021 explaining away inflation without mention of the roles played by fiscal and monetary policies.”
Nearly one year later in May of 2022, Democrats are once again planning to spend massive sums of taxpayer dollars. Democrats look to splash nearly $40 billion dollars to protect Ukraine’s border from invasion, instead of the U.S. southern border. Democrats are additionally aiming to spend about $20 billion for more coronavirus funding. Punchbowl News reported on the details of the spending proposals in Congress:
Congress is going to move forward quickly on a nearly $40 billion aid package for Ukraine. The proposal is $6.8 billion above the White House’s $33 billion request. It provides $3.4 billion more than the Biden administration sought for military aid, plus another $3.4 billion in additional humanitarian aid. House and Senate appropriators spent the last week privately negotiating the proposal.
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House Democratic leaders – including Speaker Nancy Pelosi – have pushed for nearly $20 billion for additional Covid funding, in line with what the White House said it needs. The Senate had been considering a pared-back package worth roughly $10 billion.
The spending comes before the midterms elections. Democrats are attempting to make the election about abortion. But many voters are not buying the sales pitch.
“It’s the economy and jobs,” Laura Wilson told Reuters on Monday about the precedence the economy takes over abortion. Wilson, one of 21 women the publication interviewed, slammed Biden for 40-year-high inflation that will reportedly cost American families an extra $5,200 in 2022.
“Most of the women said inflation, not abortion, was the galvanizing issue for them,” Reuters reported. “Five said they were pro-life and Republican, while 16 said they were pro-choice. Just two of the 16 said the issue was the top priority for them when voting this November.”
Polling supports Wilson’s concern. According to a CNN poll, the economy tops Americans’ greatest worry. Only two percent of Americans said Biden’s economy is “very good.” Seventy-seven percent conveyed Biden’s economy is poor, the highest mark in a decade.
