Bidenomics is failing! President's $6T budget is driving inflation to its highest level in 13 years amid record federal spending and deficit, experts warn - as GOP predict 'green worker paradise' plan will hike up prices
The consumer price index rose 5 percent in the 12 months through May, which is the highest year-on-year increase since August 2008
Experts have warned that the effects of rising prices could be 'devastating' and that huge deficit spending by Congress could supercharge inflation rates
Biden's $6trillion budget has already sparked major inflation fears given it is set to boost federal spending by 25 percent, which is the highest since World War II
According to a monthly report from the Treasury Department, the government has already set records for spending and deficit
Federal spending climbed to $4.67 billion, resulting in a deficit of $2 billion
Republicans blame the sharp rise in inflation on lax monetary policy and freewheeling stimulus spending by the Biden administration
By Emily Crane and Keith Griffith For Dailymail.com and Wires
Published: 11:39 EDT, 11 June 2021 | Updated: 18:21 EDT, 11 June 2021
https://www.dailymail.co.uk/news/article-9677073/Experts-warn-Bidens-6T-budget-driving-inflation-13-year-high.html
