According to the law of supply and demand, when the government prints or borrows trillions of dollars, the value of the dollar declines, and prices rise. That is called inflation.
According to President Biden, when the government prints or borrows trillions of dollars, the value of the dollar doesn’t decline, and prices decrease. That is called, to borrow a Biden-ism, malarkey.
Per the president, “My Build Back Better plan will be a force for achieving lower prices for Americans looking ahead. It’s another reason why these investments are so important.”
So, showering the economy with $6 trillion in new spending (the price tag of Biden’s Build Back Better plan) will lead to lower prices? That is utter nonsense.
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