(JustPatriots.com)- President Joe Biden is planning an insane new spending bill, with as much as $4 trillion in play…and United States Treasury Secretary Janet Yellen seems to think that the Federal Reserve can handle it just fine.
How did that work out for Zimbabwe?
Yellen told NBC’s “Meet the Press” that concerns about inflation are valid, but that that the government has the tools to stop it.
“It comes into effect once the economy is back on track and the spending from the rescue plan is spent,” Yellen said to Chuck Todd. “It’s spread out quite evenly over eight to 10 years.”
Unlike former President Donald Trump’s economic vision for America, which involved lowering taxes and allowing businesses to thrive – a plan that led to several stock market records over four years, the lowest ever unemployment rates and a booming economy – President Joe Biden is planning on taxing American citizens more while also expecting businesses to thrive.
Yellen said that she believes a “stronger economy will generate more tax revenues,” but didn’t explain how businesses can thrive when taxes are expected to increase.
The Treasury Secretary added that tax increases on couples earning more than $400,000 per year – not individuals earning $400,000 per year, as candidate Joe Biden promised repeatedly through 2020 – will help fund the cost of his massive plan.
The exact size of the upcoming “infrastructure” bill – which is expected to contain billions of dollars in provisions for a Green New Deal and various other woke plans – is still uncertain. President Biden has talked about $4 trillion, but GOP lawmakers are currently working on a $568 billion infrastructure proposal that focuses solely on infrastructure matters.
President Biden and the Democrats, however, have proposed a $2.25 trillion plan, and even said that they’re willing to pass the bill without the support of the Republicans – far-left provisions and all – if they won’t get on board.
Not only are they willing to risk disastrous inflation, but the Democrats don’t even want to compromise on the matter.
So much for unity and healing, huh?