ALERT: Even Democrats Worry More Government Spending Will Worsen Inflation
Biden Administration proposal to send out “gas cards” raises inflation concerns
With prices rising faster than paychecks and causing major financial strain for American families, the Biden Administration proposed more government spending including Biden Bucks “gas cards” sent by the IRS.
- Even some Democrat officials worry Biden Bucks “gas cards” could “worsen inflation” without lowering costs, according to Axios.
READ: FACT CHECK: The Real Reason Behind High Energy Costs
- Economic experts have already cited Democrats’ existing policies like monthly stimulus checks and unemployment bonuses have increased inflation, and discouraged Americans from returning to work.
READ: Even Biden’s Favored Economic Forecaster Doubts Dems’ ‘Fix’ for Bidenflation
- This would also add more to the IRS’s mission, when other new initiatives led to the agency’s backlog of more than 20 million tax returns.
READ: Burden of IRS Backlogs Falls on American Taxpayers
If Democrats wanted to get serious about addressing 40-year high inflation and the skyrocketing price of gas, then they should:
- Abandon their plans for more spending and crippling tax hikes on Main Street businesses and working families;
- Unleash domestic energy production by easing regulations;
- End the Biden Administration’s trade moratorium to sell more American goods overseas.