Author Topic: Over 230 economists warn Manchin's spending bill will perpetuate inflation  (Read 466 times)

0 Members and 1 Guest are viewing this topic.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 56,522
  • Gender: Female
Over 230 economists warn Manchin's spending bill will perpetuate inflation

A letter sent to House and Senate leadership from 230 economists argue 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 economists wrote in the letter first obtained by Fox News Digital that the U.S. economy is at a "dangerous crossroads" and the "inaptly named ‘Inflation Reduction Act of 2022’ would do nothing of the sort and instead would perpetuate the same fiscal policy errors that have helped precipitate the current troubling economic climate."

Sen. Joe Manchin, D-W.Va., announced last week he reached an agreement with Senate Majority Leader Chuck Schumer, D-N.Y., on the $739 billion reconciliation package after more than a year of negotiations among Democrats.

The economic experts point out the $433 in proposed government spending, which the experts 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."
Joe Manchin spending bill....................

https://www.foxbusiness.com/politics/230-economists-warn-manchins-spending-bill-will-perpetuate-inflation
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,746
Maybe the grandsons of Economists who issued the same warning about extending the depression with FDR's spending?
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington