North Gwinnett News

Georgia Rep. Carolyn Bourdeaux recently voted in support of President Joe Biden's massive $1.2 trillion infrastructure bill, which critics say is harmful for Georgia and will significantly increase the national deficit.

Biden's infrastructure bill is the largest bill of its kind since FDR's New Deal and would spend four times as much as the infrastructure plans passed after the great recession, The Associated Press reported.

Real Clear Politics reports that previous massive spending bills like the American Rescue Plan, supported by Democrats and signed into law by Biden, have already caused steep spikes in inflation. The cost of lumber has risen by 250%, oil by 188%, sugar by 50% and both copper and tin have jumped by 80%, the media site said.

Opponents have criticized the bill for not spending enough on traditional infrastructure. Only $579 billion of the proposed $1.2 trillion in the bill would go toward infrastructure projects such as roads and bridges, The Federalist reported. The rest would be redirected toward green energy spending, including the creation of 500,000 electric vehicle charging stations in rural areas.

Democrats rejected a proposed addition to the bill that would ensure no tax dollars would go toward companies in the green energy supply chain that utilized slave labor, The Federalist said.

The bill also would ban Georgia from building new roads, instead making the state reliant on the federal government for those critical projects, the media site said..

Without a change to the current tax and spending, by 2031, the national debt will reach 107% of the GDP, the highest level in U.S. history, a report by the Congerssional Budget Office said. The report also said that the current federal debt held by the public, which was 100% of the U.S. GDP at the end of the fiscal year 2020, is projected to reach 102% of the GDP by the end of 2021.

The Federalist said that the U.S. money supply has increased by 40% since the beginning of the COVID-19 crisis. By contrast, right before the period of high inflation of the 1970s, the money supply had increased by only 13%,

Former Clinton administration Treasury Secretary Lawrence Summers warned the recent economic stimulus passed by the Biden administration will likely “set off inflationary pressures of a kind we have not seen in a generation,” the Federalist reported.