Madam Speaker, I rise today to point out that this extremely costly 700-page half-trillion-dollar budget will raise the cost of living for working class people. When money is printed to pay bills, the cost of living is driven up, increasing inflation, which drives up interest rates. Those higher interest rates that will apply to record levels of household corporate and governmental debt will lead to an inevitable debt crisis.
The government is not giving anything. It actually is taking away and it is doing so through the most surreptitious and insidious method, which is an inflation tax brought on by heavy doses of printing money, which is going to hurt the working class while helping the super-rich and causing a debt crisis. We should not be going in that the direction.