American Rescue Plan Failure

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inflationary impact

Axios

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Democrats' $1.9 trillion bet that blew up

Summary

Nutrition label

78% Informative

The Biden administration and Congressional Democrats made a $1.9 trillion bet in the form of the American Rescue Plan.

The surge in inflation that started in 2021 and peaked in 2022 was linked to snarling of global supply chains due to COVID shutdowns and labor shortages as many would-be workers stayed close to home.

The San Francisco Fed found fiscal policy could account for about 3 percentage points of 2021 inflation.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

possibly offensive

Hate speech