Posted originally on Mar 13, 2024 By Martin Armstrong 

The Biden Administration is outright destroying America through reckless spending. The Federal Reserve has warned that Biden’s current spending habits are robbing future generations of Americans. They cannot stablizie prices or make a dent in inflation due to the rising national debt. After his State of the Union address, Joe Biden unveiled his next spending package that could cost Americans $7.3 TRILLION.

Americans are expected to pay $5.5 trillion in tax hikes to fund this bill, which will offer nothing to the everyday American. The Committee for a Responsible Federal Budget (CRFB) told the Office of Management and Budget (OMB) that this plan will raise the national debt by $45.1 trillion or 105.6% of GDP by 2034. The national debt already reached 97% of GDP in 2022. This makes the Inflation Reduction Act look like pocket change, as the US has never experienced such a large tax burden.