STOP PRINTING MONEY! Democrats’ “Inflation-Fighting Spending Package”
STOP PRINTING MONEY! Democrats’ “Inflation-Fighting Spending Package”
The Federal Reserve raised interest rates 0.75% on Wednesday, repeating the rate hike from June for a 1.5% increase in just two months. The benchmark rate now sits between 2.25% and 2.50%, estimated by officials to be a "neutral" level – neither stimulative nor restrictive.
The move by the U.S. central bank aims to make your credit cards, mortgages, and car loans more expensive in hopes you'll spend less and help cool inflation.
You hear that? Inflation is your fault. According to nerdwallet, the average auto loan rate on a used car is now 8.62%. Take your punishment and your new $900 car payment, and think about what you’ve done.
Meanwhile, in Washington, D.C., Chuck Schumer unveiled his inflation-fighting federal spending package – yes, you read that correctly – and it proves one of two outcomes: Either Democrat leadership is intentionally trying to destroy America, or they’re too stupid to govern. Either way, it’s not good.
U.S. News teed the package up this way, “What started as a $4 trillion effort during President Joe Biden's first months in office to rebuild America's public infrastructure and family support systems has ended up a much slimmer, but not unsubstantial, compromise package of inflation-fighting health care, climate change and deficit reduction strategies that appears headed toward quick votes in Congress.”
The news media is actually pitching this as, “inflation-fighting health care, climate change and deficit reduction strategies.” The strategy for Washington lawmakers to fight inflation is to print and spend $739 billion on Obamacare and climate change. I wish I was making this up.
More than half of the bill’s estimated spending is being messaged as, “The single biggest investment in climate change in U.S. History.” That feels like exactly what middle class Americans struggle to buy food, gas and other necessities need, right? Buttigieg did tell us all to fight inflation by buying electric cars.
Just in case you think they don’t have a way to pay for this, the bill includes a new 15% minimum tax on corporations that earn more than $1 billion in annual profits. They also included an $80 billion investment in the IRS to make sure you pay every dollar you’re supposed to on tax day.
To summarize, Senate leadership is fighting inflation by taxing the supply chain to make the goods more expensive, printing nearly a trillion dollars and spending the majority it on climate change, and building an army of IRS agents to make sure you don’t keep a penny more (of your earned money) than the federal government says you can.
Are they intentionally destroying America or just too stupid to govern? Since Schumer and Pelosi have been in government for what feels like 175 years, I’m leaning towards the former. Either way, it’s painfully clear that Americans can’t take much more of their agenda.
The inflation relief that Americans need most is for the “lawmakers” in Washington to take a recess. A long one.
Fax Congress today and demand a no vote on this destructive $769B spending package!