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IPFS News Link • Future Predictions

Inflation Could Make Portland Look Like Child's Play

•, by Jacob G. Hornberger

This vote-buying scheme is being sold as another attempt to "stimulate" the economy. Actually, it will do the exact opposite. Their vote-buying scheme will plunge the economy into even worse straits.

Let's say that this round of new federal vote-buying largess is $3 trillion. Where is the federal government going to get that $3 trillion? After all, we all know that the federal government does't have that money hidden under its bed. In fact, it doesn't have any money hidden under its bed. Before the coronavirus crisis, it was spending $1 trillion more than it was raising in taxes every year.

That $1 trillion in deficit spending was simply being borrowed. Much of that borrowing was from the American people, which means less capital invested in the private sector. That means lower standards of living for American society.