With the $1.2 trillion infrastructure bill having been signed, President Biden and most Democrats are now trying to pass another spending bill that would make that pale in comparison. What about inflation? Some ratings agencies are saying that wouldn’t be a problem:
EXCLUSIVE Rating agencies say Biden's spending plans will not add to inflationary pressure https://t.co/Y4xkpS94cf pic.twitter.com/bMZ2Oo9TKT
— Reuters (@Reuters) November 17, 2021
Naturally the Biden White House is getting some mileage out of the story:
Other Democrats are sharing the story as well:
HEY EVERYONE CHECK THIS OUT THE PEOPLE WHO ANALYZE THIS KIND OF THING SAY OUR BILL IS NOT INFLATIONARY (sorry to yell) https://t.co/XOu2Ewk96C
— Brian Schatz (@brianschatz) November 17, 2021
Moody’s Analytics is among the agencies cited in the Reuters story.
However, the Biden administration and other Democrats won’t retweet this reminder from @ComfortablySmug:
Reminder that the same ratings agency said mortgage backed securities were great back in 2008https://t.co/0CznHdIntE https://t.co/RPfiAmi47k pic.twitter.com/aB9WJSLbYQ
— Comfortably Smug (@ComfortablySmug) November 17, 2021
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In other words, take these ratings with a grain of salt.
What could possibly go wrong?
That is the tip of the iceberg. And it is a big freaking iceberg.
— Incognito Jones (@TorchBama) November 17, 2021
Additionally, it doesn’t look like the CBO agrees with this administration’s claim that the trillions in additional spending they want would cost “zero.”
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