President Biden’s budget tosses fuel on the inflation fire | Opinion
President Joe Biden speaks about his 2024 proposed budget at the Finishing Trades Institute on March 9, 2023, in Philadelphia.If Oprah had a car for everyone, then President Joe Biden’s $6.9 trillion tax-and-spend budget has a program for everyone., dangerously minimizes the impact of government spending sprees on the overall economy and again is based on the tired theme that higher taxes can solve any problem.
All of this represents the collision of monetary and fiscal mistakes over time. Right now, consumers are paying what amounts to an inflation tax. The Fed’s easy money policies and the extraordinary rescue of the global financial system in 2008 launched a historical bull market in stocks and jumpstarted economic growth. But all medicine has side effects.
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