Joe Biden’s failed Presidency is hammering Democrats.
One looming disaster spells doom for his Party.
Now Democrats are frantic after a top Republican pointed out this major problem facing Joe Biden.
Inflation has become the biggest problem in the country as the cost of living soars under President Joe Biden.
After occupying the White House, President Biden went on a massive socialist spending spree that showered Democrats’ pet projects with trillions of dollars.
The left-wing establishment elites’ decision to flood the economy with trillions of debt-financed dollars printed out of thin air unleashed the worst inflation in 40 years.
President Biden and Democrats have consistently claimed that inflation has peaked and the economy is getting ready to turn a corner on rising prices.
But the full weight of the trillions of dollars in new spending passed by Democrat Congressional majorities – partly with the help of establishment Republicans – and signed into law by Biden, has yet to be fully realized.
During an interview with MSNBC, President Biden explained that a lot of his spending hasn’t “kicked in yet.”
“A lot of what we’ve done and we’ve passed has not kicked in yet,” Biden noted. “For example, we have all this money to rebuild the highways, bridges, Internet, etc., but it’s going to take time. It’s not all happening overnight.”
The prospect of even more money flooding the economy in the coming years will only add fuel to the fire of inflation.
New Hampshire Republican Governor Chris Sununu sounded the alarm on the danger facing the economy because of hundreds of billions of dollars in unspent federal money.
“Everyone talks about the $5 trillion into the economy that has driven inflation, that’s absolutely true, there’s no doubt,” Sununu said.
Sununu explained that inflation will be elevated for years because of more federal spending coming online.
“What a lot of people don’t realize, I think Governors and a few of us who are actually in charge of allocating those dollars and spending them, only a fraction has actually been spent,” Sununu continued. “It’s all been allocated. But the actual number of checks that have been cut is very minimal.”
Major aspects of the Biden socialist spending spree like the so-called “infrastructure” bill have allocated money to be spent over the next several years.
“ARPA [American Rescue Plan Act] funds — all of this — that’s all designed — infrastructure, all designed to be spent into 2024, 2025, and 2026,” Sununu noted. “And so, inflation is going to be very exacerbated for the next few years, and the recession is going to be very real.”
President Biden and Democrats’ $2 trillion American Rescue Plan was sold as “pandemic relief” but, in reality, it simply funneled most of the money allocated by the bill to left-wing priorities.
Even Democrats are admitting that Joe Biden’s reckless socialist spending sprees unleashed devastating inflation on the country.
Rep. Jim Clyburn (D-SC) said the quiet part out loud on the trillions in new spending by President Biden and Democrats.
“All of us are concerned about these rising costs, and all of us knew this would be the case when we put in place this recovery program,” Clyburn admitted. “Any time you put more money into the economy, prices tend to rise.”
Rampant inflation could plague the country for years to come thanks to Joe Biden’s disastrous policies.
Stay tuned to Conservative Underground News for any updates to this ongoing story.