If there’s one thing the Biden administration knows how to do, it’s printing and spending money. Since Biden and Democrats passed through their $1.3 trillion spending package, several things have happened.
For starters, inflation is through the roof. The prices of fuel, houses, groceries, and more are higher than ever. Meanwhile, labor shortages are also an issue; within the $1.3 trillion spending package contained extra COVID relief funding lasting until September 2021.
The problem with these extra funds is that the handouts are coming at the same time as businesses seeking workers. As such, these extra government handouts are now blocking businesses from hiring, as people as more motivated to stay home and collect government checks.
All of this is deeply problematic for the nation and the economy; however, inflation could be the thing that does Democrats in during next year’s congressional midterm elections.
The inflation factor
Last month marked the true start of inflation in the United States. Prices are increasing at the same time as when many Americans are just barely making it. Furthermore, President Biden and Democrats are not slowing down their spending; in fact, they want to pass more proposals that would increase spending and raise taxes. This only leads to more inflation as time passes.
