Internal GOP Memo Highlights Inflation Spurred by Biden Admin. Spending
UPDATED 11:26 AM PT – Monday, May 24, 2021
A leading Republican representative has warned of the dangers of Joe Biden’s plans to dramatically increase federal spending.
An internal GOP document highlighted the dangers of unfettered inflation caused by the Biden administration’s massive spending packages. The memo, which came to light on Sunday, was sent to members of the Republican Study Committee last week by Rep. Jim Banks (R-Ind.).
It highlights the effects Biden’s push for unprecedented levels of federal spending is projected to have on the cost of necessities Americans depend on. According to the memo, these effects are already being felt.
It has become abundantly clear that the Democrat Party is wholly focused on the past while the GOP remains focused on securing a future for our great country. No leader or political party ever has been successful by focusing on the past.
— Jim Banks (@RepJimBanks) May 23, 2021
From May 2020 to May 2021, the price for gas has gone up by nearly 72 percent, while the cost of sugar has spiked by almost 55 percent and lumber costs by a whopping 318 percent.
Meanwhile, the Biden administration has tried to downplay the effects of inflation on the economy by paradoxically arguing poor job creation is a sign their plan is working. Biden recently stated that some critics opposed the American Rescue Plan and believed the economy would heal on it’s own.
“Today’s report just underscores, in my view, how vital the actions we’re taking are checks to people who are hurting, support for small businesses, for child care and school reopening,” Biden argued. “…Our efforts are starting to work, but the climb is steep and we still have a long way to go.”
Biden’s policies appear to only be working to benefit the Democrat Party’s agenda, while endangering American prosperity.
Rep. Banks argues this inflation amounts to a back-handed tax on the American people, who will have to live with rampant inflation while ultimately shouldering the cost of enacting Biden’s expensive hyper-partisan agenda.