Four reasons Biden's spending bill won't make inflation worse
Inflation is still going strong, with the CPI rising at the fastest rate since 1982. I’ll talk more about what to do about that, but today I want to talk about the implications for government spending policy. Republicans are using inflation as a reason to call for the cancellation of President Biden’s signature spending initiative, the Build Back Better bill. Right-leaning economic policy advisors concur. It’s possible that centrist Democratic senators like Joe Manchin — who has warned about the dangers of spending money in an inflationary environment — will go along with this, and quash the bill.