Staff Reports
Joe Biden and the Democrats are up to their old tricks again, claiming they don’t know what’s causing inflation. But the numbers don’t lie, and they’re showing just how much the federal government has been spending like there’s no tomorrow. In a new report by the Heritage Foundation, the truth is out: between March 2020 and December 2022, Congress went on a wild spending spree, blowing more than $7.4 trillion of hard-earned taxpayer dollars on various stimulus packages and programs.
The Government Burned Through $7.5T Post-COVID and All It Got Was Historic Inflation
https://t.co/Ie94Wd8YXo— Townhall.com (@townhallcom) November 21, 2023
The report lays it all out, from the $2.22 trillion COVID Response in March 2020 to the $1.9 trillion American Rescue Plan and the $1.2 trillion Infrastructure Investment and Jobs Act, among others. It’s no surprise that all this excessive spending has led to record-breaking inflation, with American families losing an average of $7,000 due to the inflation and interest rate spike.
And who’s to blame for this spending frenzy? Well, the report makes it clear that both Democrats and Republicans in Congress are responsible for this fiscal irresponsibility. They seem to have used the COVID-19 pandemic as an excuse to throw caution to the wind and pile on the debt. Heritage Foundation is calling on all lawmakers to put an immediate halt to this reckless governance and return to responsible fiscal policies.
The consequences of this out-of-control spending are hitting American families hard. Employment has stagnated, with millions of workers still missing from the labor force more than two years after the start of the pandemic. The federal government has added more to the national debt in just 27 months than it did in the first 200 years of America’s existence. Congress’s spending habits have only piled on to the already massive federal obligations, pushing the country closer to a debt crisis.
The Heritage Foundation report makes it crystal clear: the pandemic is over, and it’s time for Congress to rein in their spending. No one in America could get away with managing their finances the way the federal government does, and it’s high time for our lawmakers to take responsibility and put an end to this reckless behavior.
