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ANALYSIS: Is Biden’s Big Spending Starting To Backfire?

(Photo by Tasos Katopodis/Getty Images)

Dylan Housman Healthcare Reporter
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Critics of President Joe Biden’s big spending plans said the president was at risk of rapidly driving up inflation, and now commodity prices are soaring as Democrats attempt to push through yet another multitrillion-dollar piece of legislation.

Lumber prices are up well over 200%, and other commodities like oil, metals, corn and soybeans are soaring as well. There are non-governmental factors at play in the rise of some of these values, but some economists believe the massive injection of cash into the economy by Biden is driving prices up as well.