- July 24, 2021
- Posted by: Stratford Team
- Category: Business
Former Office of Management and Budget Director Mick Mulvaney provides insight into inflation, spending and the markets.
Economists are sharply divided over whether President Biden’s $3.5 trillion infrastructure package will exacerbate inflation pressures that are already the most severe in decades.
Senate Democrats are currently drafting the human infrastructure package that they hope to ram through via budget reconciliation, a process that would allow them to pass the legislation with a simple majority rather than the 60 votes needed to avoid a Republican filibuster.
The $3.5 trillion in spending would add to the almost $6 trillion that has already been approved to support the economy through the COVID-19 pandemic. The package potentially will be paid for with tax increases on corporations and wealthy Americans.
BIDEN DISMISSES INFLATION CONCERNS EVEN AS CONSUMER PRICES SURGE
“Government spending doesn’t stimulate the economy, it…
