On Thursday, the U.S. Commerce Department released important data showing the U.S. economy severely underperformed in the second quarter of 2021.
That's not the only economic problem facing the country.
Further, economists across the political spectrum - including Larry Summers, who served as director of the National Economic Council under President Barack Obama - have said that government and central bank programs are causing inflation and that additional spending could lead to an even greater, potentially catastrophic inflation spike.
Democrats are pushing a $3.5 trillion climate, education, and welfare bill.
The more Democrats spend, the more likely the Federal Reserve will be forced into the difficult decision of either increasing interest rates, further slowing economic growth by making lending more expensive, or allowing inflation to continue, driving up prices for consumers and lower-income families.
Only a return to fiscal sanity, mixed with pro-growth economic policies that encourage people to return to the workforce, the very opposite of Democrats' present policy platform, can avert disaster.
https://www.washingtonexaminer.com/opinion/the-evidence-is-clear-democrats-are-pushing-america-toward-economic-disaster?utm_source=msn&utm_medium=referral&utm_campaign=msn_feed
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Saturday, July 31, 2021
The evidence is clear: Democrats are pushing America toward economic disaster
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