CoxRecap

The United States is in the middle of a trade war with China, and now we're seeing the results. Inflation is on the rise, and it's all thanks to Biden's agenda. Don't let our country fall into ruin! So at the very moment that we're experiencing the highest inflation in 40 years, what does Biden value? The same sort of government spending that is already sending prices through the roof. You'd figure that with Covid receding, debt rising, and a tidal wave of unfunded liabilities staring us right in the kisser, Biden would take the opportunity to radically reset the federal government's balance sheet. Instead, his budget plan could be titled Rearranging Deck Chairs on the Titanic. The president wants to spend $5.8 trillion, which would include jacking spending on defense, education, and police. He talks about levying a controversial—and probably unconstitutional—wealth tax on billionaires to help pay for it all but still expects a budget deficit of $1.2 trillion (see Table S1 in Summary Tables)! If you're going to tax unrealized capital gains, President Biden, at least spend it on something pretty! It's debt-financed spending that helps spur inflation in the first place. Rather than cutting spending and reforming entitlements, the government borrows and prints money so it can keep giving more goodies to its favored citizens. You get more dollars chasing the same amount of goods, and that leads to price hikes.