Analysis: Democrats in the White House and Congress are betting that the long-term benefits of their agenda will outweigh a 'temporary' rise in prices.
and a private White House presentation obtained by NBC News encourages Democratic lawmakers to focus on how Biden's plan"lowers costs for working families rather than how it gets people back to work or helps the economy."
But what top Democrats are really saying, at a time when Republicans warn that a record infusion of government spending would hypercharge inflation, is that short-term price spikes aren't relevant to their attempts to expand the role of the federal government.In effect, they are making a bet that Americans will reward them for the benefits of their spending plans rather than punish them for inflation that might not last as long.
But for party vote-counters, the question is how they can squeeze $4 trillion through Congress without losing a single Democratic senator or more than four House Democrats. Most Democrats are progressives sitting in safe seats, and they don't have to worry about the short-term vagaries of economic fluctuations and shifts in political sentiment. They can vote for anything.
Senate Minority Leader Mitch McConnell, R-Ky., has accused Biden of taking a more-of-the-same approach in promoting a $3.5 trillion budget"reconciliation" plan alongside an infrastructure package that has more bipartisan support. "You've got members who are already nervous about the political consequences of a $3.5 trillion package," the aide said."Now they're starting to have policy concerns."
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