Democrats still deluding themselves that their runaway spending wouldn’t cause inflation or force families to cut back as they feel the pinch of higher costs of living should take another look. A flurry of news today paints a dire picture:
- First: Economists are warning Americans to “brace themselves for several years of higher inflation,” a consequence of “plentiful federal stimulus funding” that is “enabling many businesses to raise prices significantly for the first time in decades.”
- Next: Fannie Mae is sounding the alarm that soaring housing prices will push inflation even higher and set in price increases for the long-haul.
- Meanwhile: Families report being forced “to cut back” as inflation as forced them to spend “more this year on most items in their budget” from diaper wipes to hot dogs, peanut butter, milk and spinach.
The takeaway? Democrat-passed spending is destroying the value of families’ hard-earned dollar and making it even more expensive for working Americans to get by.