Lessons for Congress from Biden's failed COVID 'American Rescue Plan'
Fox News
The results of Biden's American Rescue Plan have been disappointing and should be a wake-up call for Congress to do a better job managing money.
A "now hiring" sign is posted in the window of a restaurant in Los Angeles, California on January 28, 2022. ( ) Face masks required signs are posted outside the Indian Village Gift Shop in Continental Divide, N.M., (Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images) Closed due to coronavirus sign. ( ) Congress needs to do a better job of managing our money, starting here and now.
Economists warned that the bill could push inflation higher — and inflation has indeed reached its highest level in 40 years. It hasn’t generated the promised millions of new jobs. Provisions that were supposed to lead to school reopenings and widely available testing did not deliver. States that were supposedly in desperate need of federal help now report huge federally-subsidized spending increases over the last year. And with more "excess revenue" projected in the months ahead, many states are likely to approve more new and wasteful spending.
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