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Senior Contributor

Biden/manchin increase inflation bill will cause skyrocketing inflation

[A letter sent to House and Senate leadership from 230 economists argues that the Infrastructure Reduction Act is expected to contribute to skyrocketing inflation and will burden the U.S. economy, contrary to President Biden and Democrats' claims.                    The economic experts point to the $433 billion in proposed government spending, which they argue "would create immediate inflationary pressures by boosting demand, while the supply-side tax hikes would constrain supply by discouraging investment and draining the private sector of much-needed resources."                   A few of the notable signers include Nobel laureate Vernon Smith, former Chair of the Council of Economic Advisers Kevin Hassett, former Director of the Office of Management and Budget Jim Miller and Robert Heller, former president of the Federal Reserve Board 1986-1989.                   In addition, professors from the University of Chicago, Princeton University, Duke University, the University of Virginia, Columbia University and the University of Notre Dame, among others, were listed on the letter dated Aug. 3.] 

PS: I don't know if the hypocrats hero krugman is one of the 230.....hopefully not as it is well established that he is most generally wrong.

3 Replies
Senior Contributor

Re: Biden/manchin increase inflation bill will cause skyrocketing inflation

More money borrowed into existence will be inflationary. 

Esteemed Advisor

Re: Biden/manchin increase inflation bill will cause skyrocketing inflation

This is designed to more than pay for itself.

Unlike GWB or TFG's high end tax cuts, where they lied that they were.

Only tools actually believed them.

Or that they were particularly stimulative.

Senior Advisor

Re: Which are you worried about, inflation or recession?

It would be nice if Fox News would point us to the actual letter so we could read it ourselves and see what it really says.