HOUSTON - Money from Uncle Sam dropping into tens of millions of American bank accounts this week - as the Biden administration began delivering monthly child tax credit payments of up to $300 dollars per kid.
The $100 billion dollar measure has been touted as a means of lifting children living on the margins out of poverty.
While temporary in its current form - the Biden administration is hoping to make the payments permanent.
Panel - good thing or bad thing?
Trillions for multiple pandemic relief packages, trillions more for infrastructure, and new social programs.
So far, Democrats have been unable to roll back the trump era tax cuts to help cover the new spending.
Now I’m no economist, but, a huge infusion of expendable cash barreling through the economy and a rapidly ballooning federal deficit - seem like volatile precursors for more potentially damaging inflation.
A little data - the consumer price index rose nearly 5.5% in June and treasury secretary Janet Yellin predicted prices would continue to rise for several months