The main driver of inflation is an overabundance of money, i.e. reckless government spending. After talking about taking action to curb inflation all year, Joe Biden and the democrats finally got around to doing something about it by spending $2.85 trillion of our tax dollars in the month of August alone. This is like trying to take the temperature down on the barbecue with a napalm strike.
Let’s take a look at how Biden and the democrats have spent money they don’t have and will eventually be paid back by us in the month of August:
The Inflation Reduction Act, which is actually the Green New Deal Lite and does nothing to actually reduce inflation, cost $770 billion.
The PACT Act sounds like a good idea to provide additional health care to our veterans but since it’s administered by the federal government, you can bet the $300 billion will be wasted and our vets will once again get screwed.
The Chips and Science Act is supposed to make the U.S. more competitive with China by paying rich corporations who already make semiconductors to make semiconductors and costs $280 billion.
At the beginning of August, Biden gave Ukraine $1 billion in military aid, then another $775 million, and just a few days ago $3 billion, for an August total of $4.8 billion.
Biden illegally cancelled $519 billion in student loans but the Wharton Business School says it will actually cost us more than $1 trillion.
Add all of that up and it equals $2.85 trillion spent in the month of August. This is on top of the normal federal budget that is already expected to run a $1.83 trillion deficit because it’s unfunded. Not a dime Joe spent in August has any way to pay for it.
That is $8,636 stolen from every single American. Of course many people won’t be on the hook for this so it’s probably more like 10 or 15 grand stolen from everyone who works.
The timing of all this massive and unnecessary spending isn’t a coincidence. Biden wants to be able to tell people before the midterms that he and the democrats are delivering for Americans. The liberal media is also doing their part calling these bullshit spending bills “big wins” for Joe Biden. They are even putting out fake polls showing that Biden’s unpopularity is turning around and that the democrats are poised to win the midterms.
The biggest problem for Biden is, despite the hefty price tag for this spending, very few average people will benefit from it. Most of the money goes to increase the size of the federal government, to rich corporations, and foreign nations. Even some of the health care stuff won’t kick in for up to 4 years.
We are still in a recession and inflation is at a 40-year high. People still see the price of food, gas, and housing. Nobody is walking into a voting both in November thinking that Joe Biden and the democrats have radically improved their lives.
The truly f*cked up thing is, $2.85 trillion in bullshit spending during the month of August is only going to make inflation worse. Biden is trying to buy votes for his party in the midterms but what he’s actually done is guarantee that the people struggling right now will be buried before the end of the year.
