President Biden is expected soon to announce a budget proposal totaling $6 trillion, sparking a resurgence of concerns about the "Hidden tax," which is inflation.
The New York Times explained the spending level would be a third higher than spending just before the China-originated COVID-19 pandemic hit.
The report said the $6 trillion spending in 2022 would surge to $8.2 trillion by the year 2031.
"Inflation is a hidden tax that everyone pays when they purchase something."
Are you worried about inflation due to Biden's massive spending plan?
The Hill said Biden's plan, "Demonstrates that Biden shows little interest in taming the deficit, which would remain above $1 trillion through the next decade despite an expected economic recovery. The deficit only exceeded that level in the four-year period following the Great Recession and again after the COVID-19 pandemic slammed the economy."
The Daily Mail bluntly warned, "Major inflation fears as Biden prepares to announce a $6 TRILLION budget".
https://www.wnd.com/2021/05/bidens-6-trillion-spending-plan-sparks-worry-hidden-tax/
No comments:
Post a Comment