Bloomberg News reports:
Republican Senator Rick Scott of Florida said Tuesday he’s worried that interest rates and inflation will rise as a result of greater government borrowing once President Joe Biden’s $1.9 trillion stimulus package becomes law.
“There is a day of reckoning here — you can’t just raise debt,” Scott said on Bloomberg TV’s “Balance of Power” program. “They don’t want to talk about how they’re going to pay for it, and now they’re going to want to go do an infrastructure bill,” he said of the Democrats.
Scott did acknowledge that the federal budget deficit climbed under Republican control, but opposed Democrats’ likely push for tax increases to stem the increase in U.S. debt.
Read the full article.
Rick Scott sees a ‘day of reckoning’ on the debt after Biden’s stimulus, with higher interest rates and inflation and tax increases to follow —> https://t.co/kWA7O77dFm
— Steven Dennis (@StevenTDennis) March 9, 2021