Concord Ledger

U.S. Rep. Annie Kuster (D-Hopkinton) recently voted in support of President Joe Biden's infrastructure program, which calls for $1.2 trillion in government spending.

According to the Associated Press, the INVEST in America Act, House Resolution 3684, would spend four times as much as the infrastructure programs enacted after the Great Recession, making it the largest infrastructure package since FDR's New Deal.

“This deal isn’t just the sum of its parts; it’s a signal to ourselves and to the world that American democracy can come through and deliver for all our people,” Biden stated in Wisconsin during a speech, reported by WNDU on Twitter. “America has always been propelled into the future by landmark investments.”

Rep. Annie Kuster | Wikimedia Commons

However, The Federalist reports that only $579 billion of the bill's proposed $1.2 trillion in spending would go toward infrastructure projects, such as roads and bridges. The report also found that Democrats rejected a proposed amendment to the bill ensuring that no tax dollars would go to companies involved in the "green energy" supply chain that may have used child or slave labor.

According to RealClear Politics, Tucker Carlson also claimed that previous massive spending bills, such as the American Rescue Plan, which was approved by Democrats including Kuster and signed by Biden, have already led to a sharp increase in inflation -- with lumber, oil, sugar, copper and tin prices increasing by 250%, 188%, 50% and 80%, respectively.

The report found that tax increases in the infrastructure package amounted to 1.36% of Gross Domestic Product (GDP), the highest level since 1968.

"In other words, just by spending a lot of money they didn’t make, the people in charge are making it for much harder for most Americans to live here," Tucker Carlson stated on Fox News. "That’s the cost of inflation."

According to a Congressional Budget Office report, if existing tax and spending policies are continued, the U.S. National Debt would reach 107% of the GDP by 2031, the highest level in U.S. history.

"It’s a tax, and it’s insidious and it’s impossible to control once it starts," Carlson continued. "Meanwhile, the most powerful people in the country have never been happier."

The report indicated that the existing public debt, which was 100% of the GDP at the end of the fiscal year 2020, is expected to reach 102% of the GDP by the end of fiscal year 2021.

The Federalist also reports that the U.S. money supply has risen by 40% since the start of the COVID-19 pandemic. Prior to the period of severe inflation in the 1970s, the money supply rose by just 13%.

In the same report, The Federalist claimed  that this infrastructure package would add trillions to the federal government's already unsustainable expenditure, citing former Clinton administration Treasury Secretary Lawrence Summers, who cautioned against the Biden administration's recent economic stimulus package, stating it would “set off inflationary pressures of a kind we have not seen in a generation.”