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Inflationary .5T Plan Would Hurt Poor, Elderly, Minorities

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19.08.2021

Politicians often talk about reducing inequality and helping the most vulnerable. Today, worsening economic conditions threaten to take us in the opposite direction. Poor, minority, and elderly families are hardest hit by rising inflation—a whopping 5.4% price increase in July compared to a year ago, a spike not reported by the Bureau of Labor Statistics since the Great Recession started in summer 2008. Democrats’ $3.5 trillion “human infrastructure” spending plan would make inflation worse, leaving more American families scraping by today and saddling future generations with astronomical debt.

Soaring food prices under President Biden hurt black and brown families most, Bloomberg News reported. A Bloomberg News/Morning Consult survey shows about one in three Americans are spending more on groceries. More than 40% of black respondents reported higher costs at grocery stores in 2021. Morning Consult economist John Leer said minority communities are being hit harder because of the disproportionate impact of the pandemic.

For the federal government to spend $3.5 trillion that’s intended to help the vulnerable is digging their hole deeper rather than helping. It perpetuates a cycle of dependency rather than helping Americans stabilize and create........

© RealClearPolitics


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