Biden's $6 Trillion Budget Could Fuel Inflation Fears And Bitcoin Gains
The president wants to print like he’s got his own bitcoin bags, and there is no end in sight to the monetary expansion expected to come.When it rains, it pours. It appears that this is true for both weather and expansion to the monetary base of the United States. According to a report by the New York Times, “President Biden will propose a $6 trillion budget on Friday that would take the United States to its highest sustained levels of federal spending since World War II, while running deficits above $1.3 trillion throughout the next decade.”Only a year ago, the pandemic began, and the....
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As inflation continues to wreak havoc on American wallets, the U.S. dollar’s lack of purchasing power has been affecting nearly every U.S. resident’s spending decisions. On Monday, U.S. president Biden and his administration predicted lower inflation forecasts as officials announced Biden’s proposed budget for the 2023 fiscal year. According to marketwatch.com author Victor Reklaitis, the Biden administration’s inflation forecast “doesn’t look realistic.”
Biden Administration Expects ‘Inflation Will Ease Over the Coming....
While the latest Bureau of Labor Statistics Consumer Price Index (CPI) report indicates U.S. inflation has continued to print perpetual new highs, U.S. president Joe Biden is losing ground on his climate bill. The Biden administration’s recent budget negotiations and tactics toward dealing with inflation have been criticized by West Virginia’s senator Joe Manchin who thinks specific parts of the climate bill could wait. Amid the political tussle, the U.S. government and Federal Reserve have been accused of massive spending, as bureaucrats continue to fuel weapons contractors,....
The money printer is going brrr in the United States. Bitcoin (BTC) may get a boost to finally clear $40,000 at the expense of the U.S. dollar as United States President Joe Biden's new $6 trillion federal spending budget proposal is unveiled.On May 28, the United States president will announce the massive fiscal policy, the largest since the Second World War, to ensure investments in major infrastructure, education and healthcare projects, reported The New York Times on May 27. Biden reportedly wants the federal government to spend $6 trillion in 2022. He also plans to raise the total....
Bitcoin held gains, bond yields rose, and gold slipped ahead of President Biden's next big spending push that could total anywhere between $2 trillion and $4 trillion.
President Joe Biden stated Wednesday that the U.S. economy had zero percent inflation in July following the latest CPI report. “Biden is claiming that we saw zero percent inflation last month. But there’s a zero percent chance that’s the case. Inflation in July was 8.5%, which is still a 40-year high,” said a lawmaker. Biden’s Zero Inflation Comment and Responses On Wednesday, President Joe Biden publicly stated that the U.S. economy had 0% inflation in July after the latest consumer price index (CPI) report was released. “Before I begin today, I....