Biden signs infrastructure bill amid concerns about runaway inflation

President Joe Biden scored a much-needed win this week amid a persistently low approval rating.

According to reports, he signed a $1 trillion-plus bipartisan infrastructure bill into law on Monday.

“America is moving again”

The ambitious agenda includes $550 billion in spending on projects related to transportation, broadband, and utilities. It will also pour billions of dollars into crucial infrastructure issues including roads, bridges, and related upgrades.

While America has been largely united on the need for infrastructure repairs, evidence shows that Biden’s massive bill will ultimately cost taxpayers dearly.

This bill is slated to go into effect even as inflation is already soaring and confidence in the U.S. economy is tanking. Dumping another trillion into the national debt, critics argue, could exacerbate the situation.

The consumer price index shot up by 6.2% between October 2020 and October 2021, which is its biggest year-over-year increase in more than 30 years. Of course, the inflation rate does not seem to bother the president all that much.

“So my message to the American people is this: America is moving again and your life is going to change for the better,” he said during a signing ceremony on Monday.

Biden admin’s hollow victory

New projects related to roads and bridges might mean comparatively little to ordinary Americans if they are simultaneously being priced out of being able to afford essential goods and services.

Many Americans, particularly in Democratic-led states, are already suffering from rising energy prices. Californians, in particular, have been hit hard as fuel prices climb into $5-per-gallon territory.

For his part, the president has sought to blame inflation on the pandemic while assuring Americans that it will be a short-lived phenomenon. As recent polls reveal, however, most people see through his rhetoric and are holding the Biden administration responsible for the current economic crisis.

Meanwhile, the Democratic Party is facing internal disagreements between its moderate and progressive wings. While centrists are concerned about runaway spending, far-left Democrats are convinced that the Biden agenda has not gone far enough to address issues like climate change, child care, education, and health care.

Although the recent success of the infrastructure bill is clearly a win for the White House, it seems clear that this victory could prove hollow as the Democratic Party remains fractured and heads into what is shaping up to be a harsh midterm election season.

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