President Joe Biden will use his Monday remarks to counter concerns from Republicans and some economists that his spending proposals are leading the country into a prolonged inflationary period.
White House officials tell the Washington Examiner that the president will make the case that both the Bipartisan Infrastructure Framework and the Build Back Better budgetary request will offset inflation by spreading out the trillions in spending across roughly a decade.
Furthermore, the White House believes that modernizing the nation’s roads, bridges, internet hardware, and waterways will increase economic efficiency, while investment in domestic manufacturing and research and development will help address supply chain deficiencies at least partially responsible for the current inflationary run.
Consumer price index figures published by the Bureau of Labor Statistics showed a 5.4% year-over-year increase for June. The Biden administration maintains that nearly three-quarters of the increase was transitory and driven