Mazzei Minute: 08/13/21
Here comes the next round of borrowed money. The Senate just passed the $1 Trillion Infrastructure Bill, where only 10% of the money goes to roads and bridges.
Both Oklahoma U.S. Senators stood their ground and voted against the reckless spending measure.
Senator Inhofe did not approve of the subsidies for electric vehicles and other green initiatives, and Senator Lankford complained the bill marked “the first step toward the Green New Deal.”
Even though hundreds of billions of dollars have been allocated to expand access to broadband through the CARES Act, the American Rescue Plan and the new infrastructure package, we’re now going to give $30 monthly vouchers to low-income households to pay for their internet service.
Democrats are going to bankrupt this country in order to pay everything for everyone.
This kind of reckless spending will fuel inflation. The Wall Street Journal (WSJ) reports that inflation as measured by the Federal Reserve ran at an annual rate of 6.1% in the second quarter, the highest rate since the inflation crises of the early 1980’s.
WSJ also warns the July Institute of Supply Management Report indicated that 66.7% of service businesses said they are raising prices.
I hope you have some sort of inflation strategy— because it's upon us. The only question is, “How long does it last?”