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CREATING GREATER INFLATION THROUGH BUILD BACK BETTER
The Daily Signal: With inflation surging to 9.1% and averaging much higher in the rural heartland than in urban areas, now is not the time for the federal government to pour gasoline on the fire.
Yet, as Democrats negotiate the newest iteration of their socialist nightmare—the so-called Build Back Better Act—that is exactly what they are planning to do. This plan would increase inflationary pressures with shortage-inducing price controls on prescription drugs and an increase in spending for Obamacare subsidies.
If this sounds like the approach of the 1970s, it is—rapidly expanding federal spending and the money supply, and ultimately triggering double-digit inflation. Then, too, rather than rein in spending, Washington resorted to price controls.
The newest version of the euphemistically named Build Back Better follows this failed playbook.
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