Bidenomics new theme song is “Addicted To Gov.” Bidenomics needs lots of Federal spending and borrowing to survive. But all this spending and borrowing is causing rapid price increases and other distortions.
The US Federal government just added $600 billion in debt in ONE MONTH. And The Fed’s have borrowed $10.47 TRILLION since Covid in Q1 2020.
Meanwhile, retail credit card APR average just hit 28.93%! While credit card debt outstandnig just exceeded $1 trillion.
On the healthcare front, a family’s health insurance costs nearly $24,000 this year after the biggest increase in more than a decade.
But inflation is reaacelerating, harming the middle class.